- Tingo announces partnership with MELD, a DeFi non-custodial banking protocol for secure lending and borrowing of crypto and fiat currencies
- Two companies share common commitment to bring financial freedom and inclusion to people
- Tingo aims to encourage the $2 trillion-dollar crypto-economy to invest in African farmers; partnership intends to explore DeFi solutions such as decentralized low-interest loans
Tingo International Holdings, a majority shareholder of Tingo (OTCQB: IWBB), a unique Africa-focused Agri-Fintech company, announces a new partnership with MELD in a bid to bring a highly efficient decentralized finance (“DeFi”) lending and borrowing protocol to customers in Africa (https://ibn.fm/nRpsI).
Working within the framework of the United Nations’ SDGs and Environmental, Social and Corporate Governance (“ESG”) impact investing, Tingo aims to be part of the solution for the African continent in several key areas—including food security—through the promotion of female entrepreneurship, financial inclusion, poverty alleviation, and zero hunger. MELD claims to be driven by a similar vision within its own sector—to facilitate access to highly sophisticated financial services for people beyond developed markets such as Europe and the US. The Company seeks to bring these services to the masses in Asia, Africa, and South America but sees Africa as a key market (https://ibn.fm/6Pk6Q). With this unique partnership, Tingo hopes to make its own contribution to providing better opportunities for the continent by encouraging the $2 trillion crypto economy to invest in African farmers.
Tingo believes the partnership will add value to the Company’s nearly 10 million subscribers by offering them more economic and financial flexibility while also attracting new users to the Tingo platform. In addition, the two companies intend to work together to explore DeFi solutions such as decentralized low-interest loans and opportunities related to eNaira, Nigeria’s digital currency issued by the Central Bank of Nigeria to serve as a medium of exchange and a store of value (https://ibn.fm/cJkhm).
With the shared belief that it is important that everyone, not just centralized institutions, governments, or wealthy individuals, can gain control of their financial lives and have equal access to financial instruments available to professionals, Tingo and MELD appear committed to make a joint effort to bring financial freedom and individualized control to the masses, including the unbanked.
In the words of Chris Cleverly, President of Tingo, the change is unstoppable, and Tingo, as a leading Agri-Fintech in Nigeria, appears poised to be a significant part of that shift. “It is vitally important, as Africa’s largest Agri-Fintech Company directed at providing services for the agricultural community and working to ensure food security across the continent, that we work with technologies such as MELD and Cardano that are looking to shift the present paradigm in favor of banking for all and inclusive finance. DeFi, stable tokens, and NFTs will emancipate Africa as an economic powerhouse – we will work with regulators to ensure this is done safely and securely. Change is inevitable, and Nigeria is leading this change”, he said (https://ibn.fm/CHEqD).
For more information, visit the company’s website at www.TingoGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to IWBB are available in the company’s newsroom at https://ibn.fm/IWBB
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