Ghana’s Knapsac Reinvents Business Funding with DeFi Innovation, Sets Sights on Global Expansion

Ghanaian startup Knapsac is leveraging decentralized finance (DeFi) pools to provide lower-risk funding to B2B2C players, bridging the liquidity gap for institutions.

The founders of PayBox founded Knapsac, which is promoting innovation in fund transfers and cross-border payments for SMEs in several African nations. By utilizing blockchain technology and artificial intelligence, PayBox's Buddy smartphone application challenges inflation, lowers transaction costs, and simplifies international payments.

The firm seeks to address the high-risk aspect of DeFi trading and investments by developing a marketplace to match DeFi lending pools to trustworthy institutions, thereby bridging the liquidity gap for institutions.

"The journey at PayBox revealed two challenges – ease of access to patient funding and the ability to ship fast even as a lean startup," said Philip Boye-Doku, Knapsac's CEO.

Several large chains have shown interest in and signed up for Knapsac's utility token generation event, which has opened a private round. Additionally, the business is holding a token sale that is available to nations that welcome digital assets.

In order to position itself to operate in one of the most progressive digital asset jurisdictions internationally, Knapsac is working to get a Virtual Asset Service Provider (VAS) license in the United Arab Emirates as part of its worldwide expansion strategy.

By reducing the risk profile of DeFi investments and providing institutional players much-needed liquidity, Knapsac's innovative approach may provide fresh opportunities for finance for companies in Africa and beyond.