Skip to content Skip to sidebar Skip to footer

LAUNCH | Empowa Pay in Mozambique Integrates Hedera Hashgraph to Allow Tenant Payments with Fiat Throughout Africa

With the inclusion of the Hedera Decentralised Ledger, Empowa Pay, a Web3 mobile application for monitoring, documenting, and verifying rent-to-own housing payments on the Empowa rental housing platform, is taking a multichain approach.

Empowa declared, “As we continue our mission to revolutionize the way tenant payments are recorded in developing markets, this dual strategy heralds a new era of efficiency and innovation.”

Real-time digital recording and processing of tenant and service partner payments is done through Empowa Pay. The firm provides low-income individuals with the opportunity to lease homes from affiliated real estate development enterprises, thanks to funding given by accredited individual and institutional investors.

Empowa claims that Hedera will revolutionize the way in which conventional payment on-ramps are integrated, making it a valuable addition given that “tenants in developing markets are not likely to make rental payments in cryptocurrencies anytime soon.”

“We will be able to record payments made in key markets around the African continent on the blockchain thanks to our integration with Hedera. This implies that we may continue to provide tenants with the familiarity of traditional payment methods while tracking and recording these transactions in a transparent and safe manner, according to Empowa.

Hedera’s strategic alliances with financial institutions make it a desirable option. Among them is Standard Bank (Stanbic), the biggest bank in Africa and a well-known participant in Hedera’s governing council.

Empowa is a fintech startup that uses NFTs and on-chain payments to finance affordable housing via a lease-to-own scheme. The startup wants to make it possible for investors worldwide to participate in Africa’s developing affordable housing market.

Upon launching in 2021, the company sold non-fungible tokens (NFTs) to raise $300,000, which was utilized to house thirty families in Beira, Mozambique. According to the creator, this accomplishment assisted the business in growing the house loan market in Mozambique by 5%.

Be the first to know

Get the best of all crypto news updates coming from Nigeria, Kenya, SA, Ghana, and across Africa

Show CommentsClose Comments

Leave a comment