Masa Finance and Pngme Partner to Drive DeFi Adoption in Africa

Silicon Valley DeFi protocol Masa Finance has announced it is partnering with African financial data company Pngme to drive the adoption of DeFi credit services in the region.

The partnership will give DeFi lenders across Nigeria and Kenya with access to 250+ off-chain financial data sources–including credit bureau data–to automate credit decisions through smart contracts while keeping data confidential.

Pngme is a credit and lending API that caters to the sub-Saharan market, helping digital banks and fintechs to collect and aggregate financial data on credit-invisible and thin-file users. Its mobile SDK, Credit Bureau API, and data processing pipelines help collect alternative financial data and unify it off-chain to create a holistic picture of an individual's finances.

Masa and Pngme's goals centre on building critical infrastructure to drive financial inclusion. Masa taps into this market by allowing DeFi lenders to build decentralized lending products such as SME loans, mortgages, and micro-loans. In addition, partnerships with platforms like Goldfinch open up access to previously unavailable pools of capital to fund a DeFi lenders loan book.

(Source: The Paypers)