Backed by Coinbase and Alameda, African exchange MARA eyes continental prospects

Backed by Coinbase and Alameda, African exchange MARA eyes continental prospects


East Africa is set to welcome a new cryptocurrency exchange backed by a formidable list of industry heavyweights looking to tap into a continent full of potential users.

Coinbase Ventures, Alameda Research, Huobi Ventures and other prominent venture capital firms and angel investors have contributed $23 million to launch MARA. The exchange will initially operate in Kenya and Nigeria, offering new users a basic exchange platform to acquire, trade and withdraw cryptocurrencies.

The platform will offer a professional exchange featuring extensive trading options and technical analysis tools for more experienced traders. Plans are in place to develop the MARA chain, a layer-1 blockchain allowing developers to build decentralized applications within the prospective MARA ecosystem.

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The MARA team also confirmed the establishment of a partnership with the Central African

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