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.