Ripple has formed a partnership with Chipper Cash to facilitate quicker and more cost-effective cross-border transactions throughout Africa.
Announced on March 27, this collaboration will introduce Ripple’s blockchain-centric payment technology to Chipper Cash’s millions of users across nine African nations.
The integration will enable Chipper Cash clients to utilize Ripple Payments, a solution that facilitates rapid international transfers via digital assets. This advancement will empower Africans to receive remittances from overseas more efficiently, diminishing both time and expenses.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, noted that enthusiasm for blockchain is surging rapidly throughout the region. He asserts that consumers and enterprises are beginning to recognize its tangible value, particularly in sectors inadequately served by conventional banking systems.
He remarked:
“By embedding our technology into Chipper Cash’s platform, we’re facilitating swifter, more economical cross-border transactions while fostering economic advancement and innovation in the markets they operate. ”
Chipper Cash Co-Founder and CEO Ham Serunjogi conveyed enthusiasm regarding the collaboration. He mentioned that blockchain could enhance financial accessibility and promote broader economic inclusion.
Serunjogi added:
“Crypto-enabled transactions possess the capability to foster greater financial inclusivity, expedite access to global markets, and empower businesses and individuals across Africa. ”
The agreement seeks to bolster Ripple’s current footprint in Africa. In 2023, Ripple partnered with Onafriq to launch similar services, marking the initiation of its regional growth.
Ripple’s international initiative extends beyond Africa, with notable partnerships and licensing efforts worldwide.
For context, the organization recently joined forces with Unicâmbio, a financial services company in Portugal. Utilizing Ripple’s crypto-driven technology, this alliance is projected to enhance payment routes between Portugal and Brazil.
The firm also obtained a license from the Dubai Financial Services Authority (DFSA), becoming the first blockchain payment provider to achieve such accreditation.
According to Ripple, these initiatives have strengthened its digital asset framework to enable over 90 payout markets, encompassing more than 90% of the global foreign exchange market. The platform has handled over $70 billion in volume, solidifying its status as a significant player in blockchain-based finance.
