May 12, 2026 – Zug, Switzerland
class=”ql-align-center”>As part of a broader initiative to expand access to core banking infrastructure across Africa, Cantor8 has unveiled plans to bring leading mobile money systems such as M-PESA and EVC Plus onchain via Yiksi Limited.
Cantor8 It has secured exclusive MOUs with Yiksi Limited, which outlines plans to bring leading mobile money systems on-chain and enable direct conversion of digital money services to crypto via blockchain paths.
Through its partnership with Taran App, a leading African fintech platform, and Yiksi, Taran App’s cryptocurrency exchange, Cantor8 will leverage Taran App’s infrastructure to bring two of the most widely used forms of mobile money in Africa on-chain via Canton network.
This partnership serves as a critical pilot project for broader rollout across additional African countries and mobile money ecosystems, demonstrating how onchain digital money infrastructure can scale across the continent.
Mobile Money Infrastructure and Blockchain Integration
Limited banking infrastructure in regions such as Kenya and Somalia has led to widespread adoption of mobile money systems M-PESA and AVC Plus.
These platforms are vital for financial inclusion and economic activity in mobile-first ecosystems, where traditional banking penetration, around 15% in Somalia, remains low due to physical and documentation barriers.
Migrating these systems to blockchain networks like Canton provides a huge opportunity to enhance interoperability, settlement efficiency and global connectivity. This development, in turn, provides users with a fully integrated digital financial system that goes beyond traditional infrastructure.
Despite access challenges, ongoing innovation in digital onboarding continues to lower barriers and expand the reach of payments and remittances across these emerging markets.
The need for digital money in African economies
To understand the impact of digital money and mobile-based transfer systems such as M-PESA and EVC Plus, it is helpful to first understand the regions in which they operate and which have seen widespread adoption.
In essence, there are three main factors that have driven the success of these systems in emerging economies like Somalia and Kenya:
- Limited to no access to reliable banking infrastructure.
- High degree of mobile accessibility and efficiency.
- Local currencies are not valid.
Banking gap
Since 1991, Somalia has transformed into a mobile-first economy led by services such as EVC Plus, filling the void left by a sparse traditional banking sector. According to 2025 Investment Climate Statement issued by the US Department of StateFormal banking penetration is only 15% due to scarcity of branches and strict ID requirements.
Cantor8 aims to bridge this gap by integrating secure digital infrastructure and modernizing mobile connectivity.
The company is targeting similar gaps in Kenya, where M-PESA is dominant but rural barriers remain. By deploying mobile-first technology, Cantor8 intends to expand financial access and integrate these emerging markets into a cohesive digital ecosystem.
Unviable local currencies
Somalia and Kenya are increasingly moving toward mobile-first financial systems to overcome structural economic challenges.
In Somalia, decades of central banking restrictions and the circulation of counterfeit Somali Shillings (SOS) have led to a market shift towards the US dollar and mobile money transfers for stability.
The Kenyan shilling remains more integrated into global markets, although its debt profile reflects huge investments in infrastructure. Despite macroeconomic pressures, Kenya continues to lead in digital innovation, using mobile platforms to deepen economic engagement.
Together, the two countries demonstrate a move away from physical cash towards digital institutions, clearly paving the way for the next generation of payments infrastructure and improved financial stability across East Africa.
Mobile indigenous people
Somalia and Kenya are establishing themselves as mobile-first economies, where cellular connectivity outpaces traditional banking growth. Mobile phone penetration rate in Somalia has reached nearly 60% 11.5 million connections It is growing at an annual rate of 7%, leading to widespread adoption of digital finance.
Indeed, Kenya’s ecosystem has become more saturated; As of late 2025, SIM subscriptions reached 78.4 million (149.5% penetration rate). This high density is approx 1.5 slice per person Highlights the central role that communications plays in regional trade.
Together, these metrics provide a strong foundation for next-generation digital payment infrastructure across East Africa’s most connected population.
The rise of digital money
The above factors create the ideal conditions for a financial system to flourish that is (a) US dollar-based, (b) directly accessible through mobile devices, and (c) providing functionality similar to bank accounts.
EVC Plus digital money system (operated by Communications leader) is now the backbone of Somalia’s economy. Mobile money adoption in Somalia is among the highest in the world, exceeding 87% of the population uses mobile money services.
For further context, Hormuud currently serves approx 5 million usersthe vast majority of which use EVC Plus for daily transactions.
Likewise, as of 2025, which is amazing 85% of Kenyan adults They were able to access financial services through digital platforms such as M-PESA. In fact, many estimates put M-PESA’s share of the value of mobile money transactions in Kenya at more than 90%.
Enter the Canton and Cantor network8
By leveraging Cantor8’s cutting-edge infrastructure components, such as the C8 Registry token issuance engine, mobile money systems like M-PESA and EVC Plus can be brought directly to the blockchain rails – the Cantor Network specifically.
By doing so, said mobile money gains access to the advantages that blockchain technology generally provides, and those that only the Canton Network can provide.
Instant settlement
Blockchain rails can provide atomic settlement of transactions, meaning transfers and other actions are settled instantly, all in a single transaction. This completely eliminates the above-mentioned “portability” risks and significantly reduces the operational burden on mobile financial service providers.
There is no settlement gap. There are no extractive intermediaries. More efficient money.
Privacy compliant
While you like public blockchains Ethereum and Solana To expose all historical transaction data, Canton Network provides a privacy-focused alternative essential for regulated industries like banking. Canton is designed to protect sensitive details, including counterparties, balances and timing, ensuring transaction data remains confidential.
To meet compliance standards, the network creates tamper-resistant audit trails that can only be accessed by regulators and authorized auditors. Integrating M-PESA and EVC Plus into Canton systems allows users to maintain complete financial privacy while enabling seamless and secure oversight by authorities.
Interoperability
Canton runs a so-called “network of networks” where different institutions operate and maintain their own blockchain ledgers, ensuring that privacy is maintained, while the main interoperability component of the network (The Global Synchronizer) allows these separate networks to interact seamlessly.
In the case of mobile money, users will be able to use their money in different countries and with different merchants, without long and high-risk conversations.
Africa Banking
Through an interoperable system of mobile money platforms, users will be able to benefit from the stability of the US dollar, seamlessly use and transfer their money cross-border, and much more.
The ultimate goal of the Cantor8 Initiative is to create a seamless, pan-African payments system that addresses inequalities around banking infrastructure and creates a more interconnected and efficient African economy. This is just the beginning
About Cantor8
Cantor8 It is the leading infrastructure provider for the Canton Network ecosystem. Founded and run by Oxbridge graduates, external founders and best-in-class DAML developers, Cantor8’s product portfolio spans self-custodial wallet solutions, private transfer infrastructure, compatible token issuance, custom development services and much more.
If you are interested in speaking with us, users can contact us (email protected).
communication
Co-Founder and Chief Marketing Officer
Rene the blonde
Cantor8
(email protected)
+12202639520
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