Crypto today is booming in niches like stablecoins, DEXs (memecoin trading), gaming, and social apps according to TokenTerminal. But for crypto to go truly mainstream, it needs to break out of these silos and offer value to people beyond the crypto/web3 world. Instead of pushing users to “get on-chain,” why not meet them where they already are? By embedding crypto-powered products into everyday life, we can remove the hurdles of managing private keys, swapping assets, or mastering complex skills.
Crypto remains a highly verticalized industry. For the next stage of mass adoption, it must evolve horizontally.
One of Justin Kan’s most frequently referenced tweets is, “First time founders are obsessed with product. Second time founders are obsessed with distribution.” To maximize your chances of product-market fit, I believe you need to solve for both. Web3 innovation needs to the criteria below to reach mainstream adoption:
- Simplicity: The product’s learning curve must be as flat as possible.
- Value: It needs to solve significant problems that other technologies cannot.
- Distribution: The product must meet users where they already are.
This is a tall order for many crypto-native projects, but simply being fast and inexpensive is table stakes now.
Meet MiniPay—a non-custodial stablecoin wallet embedded in Opera’s (NASDAQ: OPRA) Mini browser and available as a standalone Android app. With Minipay, you can send and receive funds using just a phone number.
Why is MiniPay a game-changer? Let’s break it down:
1. Simplicity
MiniPay uses Celo’s phone number-to-wallet address tech, with <5 second settlement times and sub-cent transactions fees, making sending money as easy as texting. Embedded in Opera Mini, MiniPay is perfect for low-bandwidth, mobile-first environments where simplicity is key.
2. Value
In Africa, where over half of the population of 1.37B is unbanked, MiniPay offers basic financial services like saving in U.S. dollars through stablecoins and spending in local currency. This helps protect against local currency devaluation and preserves their purchasing power. Celo’s permissionless blockchain connects those with FX liquidity to those who need it, a challenge for traditional banks and their dated infrastructure.
3. Distribution
MiniPay taps into Opera’s 320M+ user base. Launched in September 2024 in Sub-Saharan Africa, it’s already seen over 3.5 million activations. Nigeria, ranked #2 on Chainalysis’s Crypto Adoption Index, shows the importance of focusing on the right markets.
MiniPay could be the “iPhone moment” for crypto, especially in emerging markets. Simple, easy-to-use products will always outperform complex ones. While ongoing innovation in blockchain infrastructure is crucial for a better, safer, and more efficient on-chain experience, real value lies in applications that impact daily life. MinPay not only simplifies crypto but also offers developers a huge platform to overcome the cold-start problem. By offering an embedded, user-friendly product paired with a distribution-first mindset, MiniPay is poised to succeed.
Verda Venture’s MiniPay Fund is investing in applications targeting Africa and other emerging markets where MiniPay will expand. If you’re building in this space, we want to hear from you. Shoot us an email at amit@verda.ventures.