Ripple Partners with Onafriq to Expand Remittance Capabilities
Ripple has collaborated with payments fintech Onafriq to expand remittance capabilities in Africa and across borders with Gulf nations, the UK, and Australia. This partnership aims to open three new blockchain-based payment corridors between Onafriq users in Africa and customers of PayAngel in the UK, Pyypl in the GCC, and Zazi Transfer in Australia. The announcement was made at Ripple’s annual conference in Dubai.
Partnership Aims to Offer Fast and Affordable Payments in Africa
Onafriq, a pan-African-based payment gateway, has teamed up with Ripple Payments to open up three new payment resources between Africa and the rest of the world. The partnership enables customers of PayAngel in the UK, Pyypl in the GCC, and Zazi Transfer in Australia to make speedy and cost-effective remittance and business payments to recipients in 27 countries across Onafriq’s network by utilizing Ripple’s crypto technology. Onafriq is eliminating traditional cross-border payment challenges, such as lengthy transfer times, unreliability, and excessive costs. This collaboration is expected to boost financial inclusion in Africa.
The announcement made by Dare Okoudjou, Founder & CEO of Onafriq, is set to appear at Swell Global 2023, the seventh edition of Ripple’s annual customer conference, which this year takes place in Dubai.
Ripple’s Impact on Cross-Border Payments
“For a number of years, Ripple has supported crypto-enabled, cross-border payments to individuals and businesses, and we are particularly excited to expand the reach of our solution into Africa thanks to our Onfriq partnership,” said Aaron Sears, SVP, Global Customer Success at Ripple. “Connecting our partners PayAngel, Pyppl and Zazi Transfer with Onafriq over Ripple Payments will bring the benefits of faster and more cost-effective cross-border payments to individuals seeking to send money into Africa from around the globe.”
Through this partnership, the company hopes to strengthen its impact on people and businesses on the continent. With a presence in over 55 countries and six continents, Ripple has become a go-to provider for blockchain-enabled payments infrastructure.
Hot Take: Expanding Access to Fast Cross-Border Payments
Ripple’s collaboration with Onafriq is a significant step towards expanding access to fast and affordable cross-border payments for individuals and businesses across Africa. By leveraging blockchain technology, this partnership aims to address traditional cross-border payment challenges while promoting financial inclusion on the continent. With Ripple’s established presence globally, this move signifies a promising development for remittance capabilities in Africa and beyond.
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