Opera, a major technology conglomerate, is upgrading its cryptocurrency wallet within the Opera Mini mobile browser by integrating two of the largest stablecoins in the market: Tether’s USDT and Circle’s USDC.
The new feature called Pockets is being introduced in MiniPay, a self-custodial wallet based on stablecoins within Opera Mini. Pockets enables users to perform one-click swaps between the Celo dollar (cUSD) and the newly integrated stablecoins.
According to a July 3 announcement, MiniPay users can seamlessly switch between USDT, USDC, and cUSD with “sub-cent fees and no hidden costs” using a simple drag-and-drop interface.
Jørgen Arnsen, Opera’s Executive Vice President (EVP) of Mobile, explained to Cointelegraph that this feature simplifies asset swapping in Web3. Users can seamlessly switch between all three stablecoins by dragging coins between virtual pockets, completely avoiding concerns about gas fees.
The primary concern for most wallet consumers revolves around high transaction fees.
Launched in September 2023, MiniPay operates on the Celo blockchain and supports Mento’s stablecoin cUSD, which maintains a peg to the U.S. dollar. Initially introduced in Africa, the wallet extension facilitates the seamless transfer of stablecoins among local communities using mobile numbers.
Arnsen emphasized the significant potential of blockchain-powered peer-to-peer solutions in Africa, citing the region’s challenges with limited fixed internet access and high costs. He noted that consumer concerns included high fees, unreliable service uptimes, and a lack of transparency in local payment options, exacerbated by expensive mobile data.
In addition to the new Pockets feature, MiniPay introduced a Discover Page for integrated decentralized applications (DApps) within the wallet. This page organizes various native DApps, providing users direct access to tools like Universal Basic Income protocols, savings apps, and games.
MiniPay experiences substantial growth in Africa.
Since its launch last year, MiniPay has achieved over three million wallet activations across Nigeria, Ghana, Kenya, and South Africa, establishing itself as one of the rapidly expanding digital wallets on the continent.
Arnsen, Opera Mobile’s EVP, emphasized Africa’s status as a mobile-first continent with a youthful population and widespread smartphone usage. He highlighted that Opera Mini, boasting nearly 100 million users, is currently the most downloaded mobile browser in Africa.
Africa is increasingly becoming a hotspot for cryptocurrency adoption, driven by its youthful and rapidly expanding population. According to reports from BitcoinAfrica.io, South Africa, Nigeria, Zimbabwe, Kenya, and Ghana emerged as the top five African countries leading in Bitcoin adoption as of 2023. This trend underscores the continent’s significant potential for embracing digital assets.
