Ripple Partners With Chipper Cash To Enable Fast And Cost-Effective Crypto Payments Across Africa
In Brief
Ripple has partnered with Chipper Cash to enhance cross-border payments into Africa, enabling faster, more cost-effective, and efficient international transactions.
Provider of digital asset infrastructure for financial institutions, Ripple announced that it has partnered with Chipper Cash, a payments provider, to enhance cross-border payments into Africa through Ripple Payments. This solution uses digital assets to enable faster, more cost-effective, and efficient international transactions.
By utilizing Ripple’s crypto-powered payment system, Chipper Cash, which serves five million customers across nine African countries, will allow users to receive funds from anywhere in the world 24/7/365, reducing the time and complexity of transferring value into Africa.
Reece Merrick, Managing Director for the Middle East and Africa at Ripple, stated that the partnership with Chipper Cash represents a step in Ripple’s expansion across Africa. He noted that consumers and businesses throughout the continent are increasingly recognizing the potential of blockchain technology, and expressed excitement about bringing Ripple’s crypto-enabled payments solution to the region.
Reece Merrick highlighted that by integrating Ripple’s technology into Chipper Cash’s platform, the partnership enables faster and more affordable cross-border payments, while also promoting economic growth and innovation in the markets Chipper Cash serves. He added that Ripple, with over a decade of experience in tokenizing real-world assets, initially focused on bringing fiat currencies on-chain to streamline international money transfers. As the global cross-border payments market continues to grow, more institutions, like Chipper Cash, are turning to blockchain technology to enhance efficiency and drive innovation.
Ripple Expands Presence In Africa With Latest Partnership, Enhancing Global Payment Solutions
Ripple’s collaboration with Chipper Cash marks an expansion of its presence in Africa, building on its initial partnership with Onafriq in 2023. Ripple’s digital asset infrastructure, which is secure, compliant, and simple, positions the company to deliver essential services for financial institutions to tokenize, store, exchange, and transfer digital assets. With Ripple Payments offering near-global coverage across 90+ payout markets, it covers over 90% of daily FX markets, processing more than $70 billion in volume.
With over a decade of experience in the digital asset sector, Ripple holds more than 60 regulatory licenses and registrations across various jurisdictions. Recently, Ripple received approval from the Dubai Financial Services Authority (DFSA) to offer regulated cryptocurrency payment services within the Dubai International Financial Centre (DIFC), becoming the first blockchain-enabled payments provider to receive such licensing from the DFSA.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
