Ripple Launches New Partnership for Cross-Border Payments
Ripple, a payments company, has announced a new partnership to facilitate cross-border payments between Africa and several other markets. The collaboration is with Onafriq, a fintech firm with a network that spans 40 African countries.
Onafriq will utilize Ripple’s crypto-enabled payments technology to establish payment corridors between 27 African nations and the United Kingdom (UK), Australia, and the Gulf Cooperation Council (GCC), representing the UAE, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait.
Dare Okoudjou, the founder and CEO of Onafriq, states that the partnership with Ripple aligns with the company’s goal of reducing the significance of borders in payments to and from Africa. This connection aims to enable fast, secure, and low-cost remittances at scale between Africa and the rest of the world.
The 27 African countries involved in this partnership include Benin, Botswana, Burkina Faso, Burundi, Central African Republic, Egypt, Equatorial Guinea, Eswatini, Ethiopia, Gambia, Ghana, Ivory Coast, Liberia, Madagascar, Malawi, Mali, Morocco, Mozambique, Niger, Nigeria, Senegal, South Africa, Tanzania, Togo, Uganda, Zambia and Zimbabwe.
Hot Take
Ripple’s partnership with Onafriq is a game-changer for cross-border payments between Africa and several major markets. The collaboration aims to revolutionize remittances by leveraging blockchain technology to facilitate fast and affordable transactions across continents.
By
By
By
By
By
By