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NMB Bank Plc and Mastercard Empower SMEs with New Traders’ Card to Boost Trade and Growth
NMB Bank Plc, in collaboration with Mastercard, has launched the NMB Business Debit Traders card designed to help small and medium-sized enterprises (SMEs) and microbusinesses in Tanzania grow their operations and expand their reach across borders. Tailored for the specific needs of traders, the new card simplifies domestic and cross-border transactions while unlocking access to exclusive discounts through Mastercard’s Easy Savings merchant platform.
With this payment solution, Tanzanian SMEs can now seamlessly process payments across major trade corridors including China, Turkey, the UAE, and Nigeria—regions where many local traders source goods and grow supplier relationships. By reducing transaction barriers and enhancing payment security, the card supports SMEs in boosting efficiency, lowering operational costs, and scaling operations.
“We are proud to collaborate with NMB Bank Plc in launching the traders’ card, which aligns with our commitment to accelerating financial inclusion and enabling businesses to grow. SMEs are the backbone of our economies, and this solution provides them with secure, flexible, and efficient payment options that enhance their business operations,” said Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard.
The card is uniquely tailored for traders, offering branding and features that cater specifically to their needs. It offers value-added benefits such as cross-border usability, fraud protection and both local and international merchant discounts—enabling SMEs to scale more confidently in today’s digital economy.
“At NMB Bank Plc, we recognize the vital role that SMEs play in Tanzania’s economy. The introduction of the traders’ card is a testament to our continued efforts to provide innovative financial solutions that support their growth. By enabling secure and efficient payments, this card will help businesses thrive and expand beyond borders,” said Filbert Mponzi, Chief Retail Banking, NMB Bank Plc.
SMEs make up more than 90% of Tanzania’s businesses, and contribute 27-35% to the country’s GDP. Yet, they continue to face challenges such as limited access to finance and credit, and underdeveloped infrastructure. The traders’ card is a strategic step toward closing this gap—empowering entrepreneurs to trade with greater confidence, efficiency, and ease.
The launch of the card reinforces Mastercard and NMB Bank’s shared vision of building a more inclusive digital economy. As businesses continue to embrace digital transformation, the traders’ card equips SMEs with the right tools to succeed in both local and international trade.
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"We've spent years building institutional-quality infrastructure to serve the world's most sophisticated investors. Now, we're extending that edge to individuals," said Mike Novogratz, Founder and CEO of Galaxy. "Importantly, GalaxyOne advances our mission of becoming a full-spectrum financial services provider that builds trusted, regulated, and accessible products for all market segments."
GalaxyOne, which is available on mobile (iOS and Android) and online in the U.S., launches with four core products:
- Galaxy Premium Yield 2: Earn 8.00% APY through an investment note issued by Galaxy Digital LP, a subsidiary of Galaxy Digital Inc. and available exclusively to U.S. accredited investors on GalaxyOne. Yield is generated by Galaxy's institutional lending business, active since 2018. Each investment requires a $25,000 minimum and is capped at $1 million per investor with an initial $250 million total investment cap. Interest accrues daily and is paid monthly into the GalaxyOne Cash account.
- GalaxyOne Cash 3: Earn 4.00% APY in a high-yield cash deposit account FDIC insured up to $250,000. Banking services are provided by Cross River Bank, member FDIC.
- GalaxyOne Crypto: Buy, trade, hold and transfer major blue-chip digital assets, including bitcoin (BTC), ethereum (ETH), and solana (SOL). Transparent pricing, recurring purchases and real-time execution are available on the platform.
- GalaxyOne Brokerage: Access commission-free trading of more than 2,000 U.S stocks and ETFs in individual brokerage accounts. Retirement accounts (traditional and Roth IRAs) are also available. Fractional share trading is available with a $10 minimum per trade. Clients have the option to earn passive income by lending their eligible stocks through the GalaxyOne Stock Lending program4.
GalaxyOne was originally developed under the name Fierce, which Galaxy acquired in 2024. The platform is led by Zac Prince, Managing Director at Galaxy, alongside the original development team. Fierce's former CEO, Rob Cornish, will continue to support the platform's operations as Chief Technology Officer of Galaxy. GalaxyOne sits alongside GalaxyOne Institutional as part of a unified suite of products, each tailored to client needs, but both built to Galaxy's institutional standards of security, scale, and risk management.
"As technology reshapes how people invest, expectations are clear: more yield, easier access from a single platform, and opportunities that extend beyond traditional boundaries," said Mr. Prince. "GalaxyOne delivers exactly that: a unified opportunity to earn yield on cash, trade crypto, and access U.S. equities, all supported by Galaxy's financial discipline, institutional oversight, and professional team trusted by some of the world's most sophisticated institutions. We have an exciting roadmap ahead and are excited to deliver a differentiated financial experience to our clients. This is just the beginning."
To sign up and learn more about GalaxyOne, please visit: https://one.galaxy.app/sign-up
EXCLUSIVE: “Taking the Pain Out of Compliance” – Camillo Werdich, Sinpex in ‘The Fintech Magazine’
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U.S. Bank Leverages Gen AI for Banking Services
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