Saturday, December 2, 2023

Nigerians are among the first to benefit from decentralized loans

Climate change is challenging every country’s productivity across the globe. Most countries are not able to maintain minimum levels of goods production, especially Nigeria. The country’s population is struggling with food security issues. Consider this – over 100 million in Africa face many crises and don’t have a steady source of food. This number rose by 60% just between 2019 and 2020.

Even in Nigeria, millennials are a significant force and have started to play an important role in the crypto market. Many youngsters who are involved may be the key factor in opening up economic operations to a new generation. The crypto market value may be close to $2 trillion.

MELD is a protocol that is not just open source. It offers non-custodial liquidity, which makes borrowing and lending in crypto and other currencies easy. MELD’s mission is to level the playing field between people who have and those who don’t. The lowest 97% of the world’s poorest will get helped and can finally control their finances. MELD, in partnership with Tingo, Africa’s Agri-Fintech company, has created a system of microloans with low interest. The aim is to deliver super-efficient DeFi borrowing and lending solutions to those in need across their region.

Tingo’s mobile platform connects Africans by offering easy access to financial services using mobile phones and the newest technology. This digital platform helps farmers and cooperatives to sell produce at good rates. Over half a million transactions are processed every day. The average transaction is $16 and the total daily value is $8 million.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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