Fuse and ChromePay join forces to bring Web3 payment to Africa

abdelaziz Fathi

Web3 payments revolution startup Fuse is joining other blockchain protocols competing for position in the race to build and mold Africa’s emerging Web3 economy.

Today, the company has announced a key partnership with ChromePay to launch a decentralized identity service that will enable millions of African users to participate in the Web3 economy.

Chromepay launched its pay solution app back in 2021, beginning with Nigeria to allow merchants and other users receive and make payments at once by simply scanning a QR Code.

Their cloud-based financial platform, which is available for iOS and Android devices, is loaded with a bunch of features. That includes a marketplace that allows merchants to advertise their products, the QR code scanner that allows them to receive payments, as well as a bulk payment feature that enables users to make many payments at once.

ChromePay kicked off by launching a successful pilot in Nigeria, and now is planning the first launch of D.ID on Fuse in Ethiopia.

The blockchain technologies offer possibilities to many young Africans, who had been previously excluded from genuine income-generating opportunities on the internet. Led by especially high adoption rates in certain regions, Africa had the third-fastest growing cryptocurrency economy worldwide. Over the last two years, the continent saw an astounding 1,200% increase in crypto payments, industry studies claim.

Powered by Fuse, a top 10 blockchain in terms of the  number of daily active wallets connecting to its dApps, ChromePay will offer an array of Web3 payment services built on the foundations of a decentralized identity solution.

Fuse has also awarded ChromePay a grant to build out its DeFi and D.ID services on the blockchain. To date, ChromePay has received backing from the Israeli Ministry of Economy, Google SDG, and other organizations.

Mark Smargon, CEO of Fuse, said comments: “ChromePay aligns perfectly with our mission of giving businesses and consumers the freedom to do payments the way they want to. DIDs are an important first step in our relationship. With Fuse’s continued support, ChromePay will lower entry barriers to financial services across Africa, creating thriving, next-generation economies.”

“Blockchain has much-untapped potential for positively impacting underserved markets. We chose to partner with Fuse because their Blockchain is affordable, consumer-friendly, and we share a common goal to promote financial inclusion,” said Gabriel Saunyama, CEO of ChromePay. “By combining our Digital Identity solution with Fuse’s Charge API we are confident that we will be able to promote the development of the digital economy and create value for the undervalued.”

Fuse provides a blockchain as a service platform that enables businesses and developers to incorporate payments powered by Ethereum Virtual Machine (EVM)-compatible Fuse Network blockchain into their products, even without prior blockchain development experience.

The company says its alliance with ChromePay aims to enhance blockchain-powered payments in Africa, which have the potential to address major flaws in the existing payment system. This includes high transaction fees, excess intermediation, geographic fragmentation, frequent lack of interoperability between platforms, chargebacks, hidden interest, and more.

Read this next

Digital Assets

US court rules crypto trades as securities in Coinbase case

A US court ruled that trading crypto assets on platforms like Coinbase constitutes securities transactions.

Market News

Weekly Data: Oil and Gold: Brief Review before the NFP

This preview of weekly data looks at USOIL and XAUUSD where economic data coming up later this week are the main market drivers for the near short-term outlook.

Institutional FX

FXSpotStream reports lower volumes for February 2024

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for February 2024, which moved lower on a monthly basis.

Fundamental Analysis

Global FX Market Summary: EUR, USD, Gold March 4th,2024

US Dollar Weakness: The US Dollar (USD) is currently struggling to gain strength due to a combination of factors.

Technical Analysis

Bitcoin Technical Analysis Report 4 March, 2024

Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 69000.00 (former multiyear high from January)


Finding Opportunity in Challenge: Why New Regulations Offer a Chance For Business to Get on Top of Data Management

The combination of CESOP, PSD3 and the PSR, has put businesses under new pressures. In this engaging article, André Casterman, Senior Advisor at Intix provides invaluable guidance on how companies can stay ahead of the curve.

Institutional FX

Finalto launches Prime of Prime offering on LSEG’s FX Matching venue

“By combining our expertise in Prime of Prime services with LSEG’s robust trading platform, we aim to empower clients with the tools and resources needed to navigate the FX market with confidence.”

Digital Assets

Tether’s USDT stablecoin nears 100 billion in circulating supply

USDT, the world’s largest stablecoin, has reached close to 100 billion in circulating supply, currently sitting at around 99.5 billion. Its market capitalization, which reached over $100 billion at one point, is calculated by multiplying the supply by the price.

Market News

5 Hot Stocks For March 2024

Entering March 2024 marks the beginning of the final stretch of the first quarter of the year, seemingly passing swiftly amidst market anticipation and global economic factors.