Company Information

Get to know Wala

Wala was a fintech startup founded with the mission of promoting financial inclusion. It operated a mobile financial application that offered a range of services, including transactional accounts, remittances, and credit, with no monthly fees. The platform was built to serve consumers in emerging markets, primarily in Africa. A key component of its ecosystem was the Dala (DLA) utility token, an ERC-20 token on the Ethereum blockchain, which was designed to power its financial services network. Despite initial traction, the company announced its shutdown in late 2019, citing challenges with the scalability and high network fees of the underlying blockchain technology, which made its business model unsustainable.

Industry

Financial BankingPRIMARY
Financial Other Service

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Wala

N/A

Founded in

2015 (11 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.

Regulated

Recommended

IUX

(2,284 reviews)

Mauritius

2015

(10 years)

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Warning

This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.