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Get to know Wala Technologies Ltd

Wala was a fintech startup founded with the mission to provide accessible and zero-fee financial services to billions of unbanked consumers, primarily in Africa. The company offered a digital wallet and financial services application that allowed users to send money, pay bills, save, and access credit without incurring traditional banking fees. Its business model was uniquely built around its own cryptocurrency, the Dala utility token, which ran on the Ethereum blockchain. Users would transact with a stablecoin pegged to their local currency, while the Dala token was used to power the network's financial services and reward ecosystem. Despite initial funding and launching services in several African countries, Wala ceased its consumer-facing operations in mid-2019 due to significant financial and market challenges.

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Financial Electronic PaymentPRIMARY
Financial Other Service

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Wala Technologies Ltd

Canada

Founded in

2017 (9 Years)

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

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A Grade License

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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.

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