Tether Finance contributes $10 million to MANSA's funds

Tether Finance contributes $10 million to MANSA's funds

In the realm of global finance, Morocco is making significant strides. After a ban on cryptocurrency in 2017, the North African country legalized and regulated its use with a new law finalized in July 2025 [1][3]. This shift towards a regulated framework emphasizes consumer protection, anti-money laundering measures, and market integrity for crypto transactions, covering major cryptocurrencies like Bitcoin and Ethereum.

The regulatory emphasis in Morocco is clear, aiming to ensure a secure and compliant environment for crypto trading. The new law includes taxation, with a capital gains tax of 15-30% [3]. This move signals Morocco's ambition to become a regional fintech hub with clear rules on crypto trading, taxation, and compliance with global financial standards.

However, Morocco is also addressing concerns about illicit financial activities linked to cryptocurrency, particularly regarding overseas real estate purchases by influential figures. In early 2025, the Moroccan Foreign Exchange Office began investigating the use of cryptocurrencies to bypass foreign exchange and asset transfer regulations [2][3].

Prominent officials with dual Moroccan and European nationality have been under scrutiny for using cryptocurrencies via complex financial schemes to invest in real estate, securities, and other assets overseas. These individuals reportedly declared Morocco as their tax residence while holding significant movable and immovable assets abroad through foreign identities.

The investigations are facilitated by Morocco's agreement with OECD countries, allowing the exchange of financial data. This enables scrutiny of foreign bank accounts and real estate owned by Moroccans. The Moroccan Foreign Exchange Office enforces laws prohibiting unauthorized overseas money transfers and requires repatriation of off-shore assets. Travel bans may be imposed to prevent suspects from fleeing before the completion of the ongoing probes [2][3].

Meanwhile, in the fintech sector, MANSA Finance is providing real-time settlement infrastructure for fintech companies moving money across borders. Since launching in August, MANSA has processed $27 million in onchain transactions. The company has recently secured a $10 million funding round led by Tether and Polymorphic Capital [4].

Elsewhere on the continent, VISA opens applications for Cohort 4 of its Africa Fintech Accelerator Program, with a deadline of Mar. 25, 2025 [5]. As Morocco navigates its journey in the world of cryptocurrency, these developments underscore the dynamic and evolving landscape of African fintech.

References:

1. Morocco Legalizes Cryptocurrency Use
2. Morocco Cracks Down on Crypto-Related Real Estate Purchases Abroad
3. Morocco's New Crypto Law: A Comprehensive Guide
4. MANSA Finance Secures $10 Million Funding Round
5. VISA Opens Applications for Africa Fintech Accelerator Program

Further Reading:

• Morocco's Crypto Adoption Grows Despite Ban
• Web3Bridge Opens Waitlist for 13th Cohort
• Coinbase Expands Fiat Onramp Feature
• USAID Announces Women Entrepreneurship Incubator Program in Kenya

1. The new legal framework in Morocco allows for the use of Bitcoin, Ethereum, and other major cryptocurrencies in a regulated environment, aiming to ensure consumer protection and market integrity.
2. This shift towards a regulated cryptocurrency ecosystem in Morocco has attracted global fintech companies like Tether and Polymorphic Capital, leading to significant investments in startups like MANSA Finance.
3. MANSA Finance, based in Morocco, offers real-time settlement infrastructure for fintech companies moving money across borders, processing $27 million in onchain transactions since its launch.
4. Asian Fintech Accelerator Program, managed by VISA, is open for applications from African fintech startups, a move that highlights the expanding fintech ecosystem on the continent.
5. Morocco's regulatory approach to cryptocurrencies aligns with global financial standards, including measures against money laundering and taxation, boasting a capital gains tax of 15-30%.
6. Despite the 2017 ban on cryptocurrencies, Morocco's interest in the sector has grown, encouraged by its potential for innovation and investment opportunities.
7. Moroccan authorities are actively investigating instances where influential figures used cryptocurrencies to bypass foreign exchange and asset transfer regulations, particularly with regard to overseas real estate purchases.
8. As Morocco develops its regulations for cryptocurrency trading, it continues to grapple with the challenges posed by illicit financial activities within the sector.
9. The criminal investigation in Morocco involves individuals with dual Moroccan and European nationality who reportedly used complex financial schemes to invest in real estate, securities, and other assets overseas.
10. The investigations are facilitated by Morocco's agreement with OECD countries, enabling financial data exchange and scrutiny of foreign bank accounts and real estate owned by Moroccans.
11. Morocco, by imposing travel bans, aims to prevent suspects from fleeing before the completion of ongoing investigations into crypto-related illicit activities.
12. The evolving landscape of African fintech includes not only cryptocurrency regulations but also advancements in education-and-self-development, business, technology, lifestyle, general news, sports, entertainment, and the casino-and-gambling sector.

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