Opera’s MiniPay partners with Mento Labs to offer USDT, USDC, and cUSD swaps

MiniPay, an ultralight non-custodial stablecoin wallet built on Celo, will use Multicoin with Pockets. Developed in collaboration with Mento Labs and integrated into the Opera Mini browser, Pockets is set to redefine the stablecoin swapping experience by offering a one-click solution for 1:1 swaps between popular stablecoins like USDT, USDC, and cUSD.

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By integrating USDT and USDC, MiniPay now supports over 85% of the stablecoin market, providing users unprecedented flexibility and access to more cash-in and cash-out offers.

Simplifying stablecoin swaps with Pockets

According to reports, Pockets will facilitate easy transactions, enabling MiniPay users to effortlessly drag and drop one stablecoin pocket into another. This functionality significantly reduces the technological know-how required to transact with cryptocurrencies.

MiniPay’s broad mission entails bridging the gap between traditional financial systems and the emerging Web3 landscape. With this upgrade, they are moving closer to that goal by aiming to make digital finance technologies accessible to everyone and simplify complex processes.

At the time of this writing, the current crypto market cap stands at $2.2 trillion, with a decrease of 5.64% in the Last 24 hours. With that, Stablecoin’s market cap stands at  $161 billion, representing a 7.34% portion of the whole crypto market cap. MiniPay’s target group makes a percentage of this market cap

MiniPay to bridge traditional finance and Web3

MiniPay is a non-custodial 2MB wallet that allows users to send and receive stablecoins with meager transaction fees—less than 1 cent. It was first launched in Africa to assist people in sending and receiving stablecoins using mobile numbers.

Given the lack of fixed internet access and high internet costs, we recognized the significant potential of blockchain-enabled peer-to-peer solutions within the continent.

Our research showed that most consumers had concerns over the high fees, unreliable service uptimes, and lack of transparency around transaction progress associated with local payment options. While high mobile data costs were and still are an omnipresent issue.

Jørgen Arnesen, executive vice president of Mobile at Opera

MiniPay has also established a Discover Page that connects users directly to a curated list of decentralized apps within the wallet. This will help provide straightforward access to diverse financial tools – from Universal Basic Income protocols and savings applications to games and more. 

This addition makes it easier for everyone, including those new to Web3, to leverage technology for everyday tasks like paying bills directly without needing to convert to local currency.

MiniPay’s digital wallet  market in Africa takes preeminence

Following its launch in Nigeria, MiniPay has expanded to three additional countries (Kenya, Ghana, and South Africa), reaching over 3 million activated wallets in less than a year. MiniPay Pockets is expected to enable seamless transactions with stablecoins to onboard users to the digital economy. 

Also Read: Opera’s MiniPay Hits 1 Million Users Mark in Africa, Signaling a Shift in Financial Inclusion

Mento Labs is very proud to support MiniPay users with easy and efficient stablecoin swaps on its platform.

From the outset, MiniPay has been about simplicity and financial empowerment, and our collaboration with Mento to create Pockets is another big step forward in that mission. Not only do our users now have more flexibility, but with Drag & Swap, MiniPay retains the ease of use that has defined the user experience since the beginning.

We’re bringing advanced Web3 technologies to a Web2 audience in the African continent by packaging them in ways that are understandable and accessible.

Jørgen Arnesen, executive vice president of Mobile at Opera

Several users took to the MiniPay platform X account to celebrate the upgrade, which is expected to reduce the multiple steps required when swapping between assets.

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Cryptopolitan reporting by Florence Muchai