Opera Launches Non-Custodial Stablecoin Wallet, MiniPay, for African Users

Opera, the web platform with over 100 million users in Africa, has unveiled a non-custodial stablecoin wallet integrated into its mobile web browser. This groundbreaking move aims to address the concerns of users in Nigeria, Kenya, Ghana, and South Africa, who have expressed dissatisfaction with high fees, service reliability issues, transaction transparency, and limited access to mobile data.

The MiniPay wallet, developed on the Celo blockchain, is set to revolutionize the digital payments landscape in Africa. Users will have the ability to seamlessly send and receive stablecoins using their existing mobile numbers. This integration not only simplifies the user experience but also promotes financial inclusion in regions where access to traditional banking services can be challenging.

Opera’s Executive Vice President for Mobile, Jørgen Arnesen, emphasized the company’s commitment to addressing the unique needs of the African market. He stated that users in Nigeria, Kenya, Ghana, and South Africa have indicated lingering concerns about high fees, unreliable service uptimes, a lack of transparency around transaction progress, and a lack of access to mobile data.

MiniPay’s features are designed to enhance usability and accessibility for African users. The wallet will operate with sub-cent fees, ensuring cost-effective transactions for its users. Users can easily onboard and back up their wallets through their Google credentials, simplifying the setup process. MiniPay has integrated with local payment methods, including Airtime and MPesa, as well as traditional bank transfers. This enables users to seamlessly convert stablecoins to local currency and vice versa.

Celo Welcomes Opera’s MiniPay Wallet

Celo, which also boasts a strong user base in Africa, welcomes the integration with MiniPay. It sees this collaboration as an opportunity to expand the ecosystem of Ethereum-compatible decentralized applications (dApps) for MiniPay users. This development aligns with Celo’s vision of providing accessible and inclusive financial services.

As the product launches, MiniPay will support the Mento stable asset cUSD (Celo Dollar), which tracks the value of the US Dollar on the Celo blockchain. Arnesen highlighted that this approach eliminates confusion for users by offering a single stable currency, as opposed to managing multiple cryptocurrencies.