Opera MiniPay Reveals V2 and ‘Pockets’ for Multi-Stablecoin Swaps
Blockchain-based wallet Opera MiniPay has launched its second version, going multi-stablecoin and introducing Pockets for stablecoin swaps.
The press release describes MiniPay as a super-lite (2mb) stablecoin wallet built on the Celo blockchain. It enables fast stablecoin mobile transfers across Africa.
One-Click Drag & Swap
The MiniPay V2 has revealed Pockets, a new feature created in partnership with the EVM-compatible stablecoin platform Mento Labs.
This feature enables “one-click swaps” between three stablecoins. In addition to cUSD, the wallet has now integrated Tether’s USDT and Circle’s USDC.
Notably, USDT and USDC represent over 85% of the total stablecoin market. They have a strong existing user base in countries throughout Africa.
Therefore, adding these two vastly popular stablecoins allows new use cases to be developed and simplifies onboarding.
Additional benefits include providing users with more flexibility and access to this category of digital assets, as well as a broadened network of on- and off-ramp providers to increase cash-in and out options.
As a result, users can easily and quickly switch or swap between cUSD, USDC, and USDT by “dragging from one pot and dropping into another.”
This is enabled through the new ‘Drag & Swap’ functionality, allowing users to drag one pocket into another.
The fees are “sub-cent,” and there are no hidden costs, the announcement said.
The team behind it remarked that Pockets “will optimize digital currency management while further delivering on MiniPay’s commitment to making Web3 solutions accessible to all.”
Mento Labs CEO Markus Franke commented that “MiniPay Pockets enable seamless transactions with stablecoins to onboard users to the digital economy.”
‘Discover Page’ for Integrated Dapps
Besides the Pockets feature, MiniPay unveiled the Discover Page for the decentralized apps (dapps) integrated within the wallet.
This novel page organizes native dapps and provides users with direct access to tools such as Universal Basic Income protocols, savings applications, and games, among others.
According to the press release shared with Cryptonews,
“The growing roster of integrated dapps introduces even first-time users to the benefits of Web3 technology to solve everyday challenges, like paying for bills and utilities directly without cashing out to local currency.”
Three Million Activated Wallets
First announced in September 2013, MiniPay is a blockchain-based dollar wallet built on Celo and integrated into the Opera Mini browser.
Its core features include gas fee abstraction, transaction fees (less than one cent per transfer), and instant processing.
Additionally, it is equipped with a simple user interface to lower entry barriers and cash-in/cash-out options for flexibility.
The team also works on integrating partners for each country of operation to “bring users competitive USD stablecoin rates.”
Meanwhile, MiniPay’s initial month-long rollout proved to be “a big hit.”
Therefore, in October 2013, the team launched MiniPay in Nigeria. Since then, it has expanded to Kenya, Ghana, and South Africa.
Per the latest announcement, MiniPay recorded over 3 million activated wallets in less than a year, “making it the fastest-growing wallet on the continent.”
“MiniPay’s growth has demonstrated the need for straightforward, secure access to stable currencies and decentralized applications,” it added.
Don't miss surprise MiniPay cash links on our WhatsApp channel 🫵 https://t.co/tqd375FPwA
— minipay (@minipay) June 28, 2024
“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,” commented Jørgen Arnsen, EVP of Mobile at Opera.
“We’re bringing advanced Web3 technologies to a Web2 audience in the African continent by packaging them in ways that are comprehensible and accessible,” he added.