Over the course of time, regulatory authorities from around the world have started tightening their grip on cryptocurrency firms. Whether it is a cryptocurrency exchange or any other crypto-related firm, it is expected to strictly abide by the regulations.
As the majority of the crypto sector is decentralized and unregulated, it is almost impossible for the majority of the cryptocurrencies to gain mainstream recognition.
However, the situation has been changing for the major cryptocurrencies. As the major cryptocurrencies are gaining worldwide recognition, competition has been going between them.
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These cryptocurrencies include Bitcoin, Ether, Binance Coin, Ripple, and many more. Among these cryptocurrencies is Cardano (ADA), which is also part of the competition and wants to gain more recognition in the mainstream sector.
In order to prove prowess over the other major cryptocurrency, every cryptocurrency is collaborating with major firms and industries. This way, they are able to gain more recognition and demand in the mainstream sector.
Cardano Blockchain Helped Pezesha
As Cardano is also determined to gain worldwide recognition and increase the adoption of its native token ADA, it is undergoing many collaborations.
The Cardano blockchain has recently collaborated with Pezesha in order to run funding round for the firm. Pezesha is a fintech-focused company that is operating in Kenya.
The firm has been interacting with medium- and small-sized enterprises in order to help them with finances.
Cardano recognizes Pezesha as the means to make itself known throughout the Kenyan mainstream industry. Therefore, it recently hosted the funding round for Pezesha, a Kenyan fintech firm.
Debt-Equity Funding Round
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Cardano blockchain recently hosted a pre-Series A funding round for Pezesha and it was for debt-equity. Another major entity that co-led the funding round was the World Banking Capital Partners II for Women.
The particular funding round also witnessed participation from the Input Output Global firm, which is a Cardano blockchain builder.
Pezesha has generated $11 Million
From the latest funding round, Pezesha has successfully generated $11 million. While there were Cardano and other notable investors, other major contributors to the funding round were Cfund and Verdeant Frontiers Fintech Fund.
Pezesha’s Expansion to Other Countries
Having raised $11 million, Pezesha is determined to expand its business to more countries in the African region.
In the past, Pezesha announced that it is aiming to expand its jurisdictions to countries such as Rwanda, Nigeria, and Francophone Africa.
Being in the front with Pezesha, Cardano has a lot to gain from the opportunity at hand. Among all other mainstream firms, fintech firms are more prone to adopting cryptocurrencies.
As Pezesha starts expanding its network to the entire African region, it would definitely endorse Cardano and its native token ADA. This would be a shining moment for Cardano and the value of ADA will record significant boosts.