Opera, the web platform with over 100 million users across Africa, has unveiled plans to introduce a non-custodial stablecoin wallet integrated into its mobile web browser. This wallet will cater specifically to its African user base.
The new service, named MiniPay, is built upon the Celo blockchain and is set to enable African users to send and receive stablecoins using their existing mobile phone numbers. The rollout of MiniPay will commence in the coming months, beginning with Nigeria.
Opera has been present in Africa for 17 years, amassing a substantial user base across the continent. With the introduction of MiniPay, the company aims to address issues that African users have encountered, such as high fees, service outages, lack of transaction transparency, and limited access to mobile data.
MiniPay intends to offer its services at sub-cent fees and will provide users with the option to mount and back up their wallet through their Google credentials. The wallet will integrate local payment methods, including Airtime and M-Pesa, alongside traditional bank transfers, allowing users to convert stablecoins into local currency and vice versa.
Jørgen Arnesen, Executive Vice President of Mobile at Opera, emphasized that the MiniPay browser is designed to be a data-saving technology, enabling users to access the web and information without consuming a substantial portion of their monthly income.
Celo, the blockchain on which MiniPay is built, boasts a robust user base in Africa. The integration with Celo opens the door for MiniPay to develop more Ethereum-compatible decentralized applications.
Arnesen also noted that MiniPay, upon launch, will support Mento's stablecoin, Celo Dollar (cUSD), which is pegged to the value of the U.S. dollar. This approach aims to simplify user experience by avoiding the introduction of multiple currencies at once, a common occurrence in traditional crypto wallets.
Opera has been actively enhancing its web browser with various features, including the integration of generative AI for contextual web page hints. Additionally, it has introduced a suite of security tools to protect users from malicious Web3 attackers.
