Ripple, a top provider of crypto-powered payment solutions, has announced a strategic partnership with payments provider Chipper Cash to enhance cross-border transactions into Africa.
This collaboration will leverage Ripple Payments, a crypto-enabled solution designed to facilitate faster, more affordable, and efficient international money transfers.
Chipper Cash, which serves over five million customers across nine African nations, will integrate Ripple’s blockchain technology to enable 24/7 global remittances.
This partnership aims to reduce transaction time and costs, significantly improving the efficiency of financial flows into Africa.
Leveraging blockchain technology for payments
Managing Director for the Middle East and Africa at Ripple, Reece Merrick, emphasized the importance of the partnership in expanding Ripple’s footprint on the continent.
“Consumers and businesses in Africa are increasingly recognizing the benefits of blockchain technology. Through this collaboration, we aim to provide a seamless, cost-effective cross-border payments solution, driving economic growth and innovation in the region,” Merrick said.
Co-Founder and CEO of Chipper Cash, Ham Serunjogi, highlighted the transformative potential of crypto-enabled payments.
“We’re excited to harness the transformative potential of blockchain technology to enable greater financial inclusion, accelerate access to global markets, and empower businesses and individuals across Africa,” Serunjogi stated.
Ripple’s expansion into Africa
Ripple is a global leader in digital payments infrastructure, powering over $70 billion in cross-border payments.
- With this integration into the Chipper Cash app platform, Ripple Payments will expand its reach into Africa, and millions of people across Africa will be able to receive faster, more affordable payments from around the world.
- Serunjogi added that blockchain technology has the capacity to enhance financial inclusion, streamline access to global markets, and empower individuals and businesses across Africa.
- According to him, by integrating with Ripple’s global payments network, both organizations will enable faster and more cost-effective transactions.
What you should know
As Africa’s remittance market grows, fintechs and blockchain firms are stepping in to solve inefficiencies in traditional banking.
Ripple’s partnership with Chipper Cash signals a shift toward crypto-powered remittances, which could reshape how money flows into Africa.
- Ripple Payments currently supports over 90 payout markets, covering more than 90% of the daily foreign exchange market and processing over $70 billion in volume.
- The company is said to have over a decade of experience in the digital asset space and holds 60+ regulatory licenses and registrations in various jurisdictions.
- Chipper Cash, led by co-founders Ham Serunjogi and Maijid Moujaled, revolutionized moving money in Africa by providing a frictionless way to send and receive money cross-border.
