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Zug, Switzerland, May 12, 2026, Chainwire
As part of a broader strategy to expand access to key banks in Africa, Cantor8 has revealed plans to bring leading mobile money solutions such as M-PESA and EVC Plus onchain through Yiksi Limited.
Cantor8 has reached an exclusive MOU with Yiksi Limited, outlining plans to bring advanced mobile money solutions to the chain and help convert digital currencies to crypto through blockchain channels.
Through its partnership with Taran App, the leading African fintech platform, and Yiksi, the Taran App cryptocurrency exchange, Cantor8 will use the infrastructure of Taran App to bring two of Africa’s most used mobile money solutions on the chain through Canton Network.
The partnership serves as an important driver for the widespread adoption of mobile money in other African countries, demonstrating how onchain digital money can affect the continent as a whole.
Mobile Money Infrastructure and Blockchain Integration
A handful of banks in regions like Kenya and Somalia have led to widespread adoption of mobile money. M-PESA and EVC Plus.
These platforms are important for financial inclusion and financial transactions in the first priority areas where traditional banking, about 15% in Somalia, remains low due to physical and documentation barriers.
Transferring these systems to blockchain networks like Canton offers the potential for increased coordination, better stability, and global connectivity. This innovation, provides users with an integrated digital financial solution that goes beyond traditional tools.
Despite the challenges to be found, advanced digital technology continues to lower barriers, increase wages and income in emerging markets.
The Importance of Digital Currency in African Economies
To understand the impact of digital money on mobile-based payment systems such as M-PESA and EVC Plus, it helps to understand the areas where they operate and see mass adoption.
At the core, three main factors have driven this trend in developing countries such as Somalia and Kenya:
- There is no access to reliable banking infrastructure.
- The rise of cell phones and technology.
- Local currency that does not work.
Differences in Banking
Since 1991, Somalia has evolved into the first economy led by services like EVC Plus, filling the space left by a few banks. According to US State Department’s 2025 Investment Climate StatementBank penetration is limited to 15% due to lack of branches and ID requirements.
Cantor8 aims to bridge this gap by integrating secure digital tools and modernizing communication.
The company is looking for similar opportunities in Kenya, where M-PESA dominates but rural barriers persist. Using mobile-first technology, Cantor8 aims to expand access to capital and integrate these emerging markets into a unified digital system.
Local Funds Not Available
Somalia and Kenya are increasingly turning to mobile-based financial services to solve financial problems.
In Somalia, decades of central bank deficits and the sale of fake Somali Shilling (SOS) have led to a market shift to the US Dollar and mobile money to stabilize.
The Kenyan shilling (KES) remains the most integrated currency in international markets, despite its credit history showing an overvalued currency. Despite economic challenges, Kenya continues to be at the forefront of digital innovation, using mobile platforms to facilitate economic participation.
Together, these countries are demonstrating a migration from physical money to a digital foundation, establishing a next-generation payment system and economic stability in East Africa.
The People Who Live With Them
Somalia and Kenya are solidifying their position as leading economies as cellular connectivity outpaces banking growth. Mobile phone penetration in Somalia has reached about 60%, and 11.5 million connections growth of 7% per year, resulting in the establishment of digital economy.
Kenya’s natural resources are abundant; By the end of 2025, SIM subscriptions will hit 78.4 million (149.5% penetration). This high density of approx 1.5 SIM per person it emphasizes the major role of telecom in regional trade.
Together, these metrics provide a solid foundation for the next generation of digital payments across East Africa’s most connected regions.
The Rise of Digital Money
The aforementioned creates the best conditions for a financial system that (a) is denominated in USD, (b) is quickly accessible through mobile devices, and (c) offers the same functionality as bank accounts, to be successful.
Digital money system, EVC Plus (operated by Telecom Director) is now the backbone of Somalia’s economy. The adoption of mobile money in Somalia is one of the highest in the world, which is now over 87% of people use mobile phones.
For more information, Hormuud currently serves approx 5 million usersmany who use EVC Plus in daily activities.
Likewise, by 2025, amazing 85% of Kenyan adults they had access to financial services through digital platforms such as M-PESA. Indeed, several estimates put M-PESA’s share of mobile money in Kenya at over 90%.
Join Canton Network & Cantor8
Using Cantor8’s most expensive tools, such as the C8 Registry token issuing engine, mobile money systems like M-PESA and EVC Plus can be brought directly onto the blockchain – Canton Network in particular.
In doing so, he said mobile money gets access to all the advantages that blockchain brings in many cases, and that only Canton Network can deliver.
Instant Settlement
Blockchain platforms can provide atomic stability for transactions, meaning that transfers and other transactions are completed instantly, all in one transaction. This eliminates the aforementioned ‘travel’ risk and significantly reduces the burden on mobile money providers.
There are no limits. There are no extractive middlemen. Effective investment.
Related Privacy
While public blockchains like Ethereum and Solana By disclosing all past transactions, the Canton Network provides an alternative way of looking at the privacy of bank-controlled companies. Designed to protect private information, including parties, sizes, and times, Canton ensures that transactions remain private.
In order to meet compliance standards, the network creates audit trails that are accessible only to certified regulators and auditors. Integrating M-PESA and EVC Plus on Canton railways enables users to maintain all financial privacy and enables seamless, fool-proof monitoring by the authorities.
Disagreement
Canton operates a so-called ‘network-of-networks’ where different organizations work together and keep their records on the blockchain, ensuring that privacy is preserved, while a key part of the network (The Global Synchronizer) allows these networks to communicate seamlessly.
In the case of mobile money, users will be able to invest their money for use in different countries and with different traders, without making long and risky processes.
Banking Africa
Through the integration of mobile money platforms, users will be able to control the stability of the US Dollar, seamlessly spend and transfer their money across borders, and more.
The ultimate goal of Cantor8’s initiative is to create a pan-African payment system that eliminates the inequities around banking and creates a more connected and fair African economy. This is just the beginning.
About Cantor8
Cantor8 is the leading developer of the Canton Network ecosystem. Founded and managed by Oxbridge alumni, emerging startups, and top DAML developers, Cantor8’s product suite covers self-contained wallet solutions, private exchange tools, collaborative token issuance, bespoke development services, and much more besides.
If you want to talk to us, users can reach out (email protected).
Contact
Co-Founder & Chief Marketing Officer
Reni Achkar
Cantor8
(email protected)
+ 12202639520
