Ripple has formed a collaboration with Chipper Cash to enhance the speed and affordability of cross-border payments throughout Africa.
An announcement made on March 27 revealed that this partnership will introduce Ripple’s blockchain payment technology to Chipper Cash’s millions of users across nine African nations.
The integration will enable Chipper Cash customers to utilize Ripple Payments, a solution designed for quick international transfers leveraging digital assets. This advancement will streamline the process for Africans receiving money from overseas, significantly cutting down on both time and cost.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, noted that interest in blockchain technology is rapidly increasing across the continent. He believes that both consumers and businesses are beginning to recognize its tangible benefits, particularly in regions that lack adequate traditional banking services.
He mentioned:
“By integrating our technology into Chipper Cash’s platform, we’re facilitating quicker, more economical cross-border payments while promoting economic growth and innovation in the markets they operate.”
Chipper Cash Co-Founder and CEO Ham Serunjogi expressed his enthusiasm regarding the collaboration. He asserted that blockchain technology could enhance financial access and foster greater economic inclusion.
Serunjogi commented:
“Crypto-enabled payments can unlock greater financial inclusion, expedite access to global markets, and empower both businesses and individuals throughout Africa.”
This agreement aims to strengthen Ripple’s established presence in Africa. Earlier in 2023, Ripple formed a partnership with Onafriq to launch similar services, signaling the beginning of its regional expansion efforts.
Ripple Payments’ Global Ambitions
The international outreach of Ripple Payments extends well beyond Africa, featuring significant partnerships and licenses worldwide.
Recently, the company joined forces with Unicâmbio, a financial services provider in Portugal. By leveraging Ripple’s crypto-driven technology, this collaboration aims to enhance payment corridors between Portugal and Brazil.
Additionally, the firm received a license from the Dubai Financial Services Authority (DFSA), making it the first blockchain payment provider to gain such authorization.
Ripple asserts that these initiatives have strengthened its digital asset framework, supporting over 90 payout markets and covering more than 90% of the global foreign exchange market. The platform has handled over $70 billion in transaction volume, reinforcing its status as a pivotal entity in blockchain finance.
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