Ripple Expanding Payment Corridors in Africa
Ripple has announced a new partnership with African mobile payments provider Onafriq to power payment corridors between 27 African countries and Australia, the United Kingdom, and the Gulf Cooperation Council (GCC). This collaboration will utilize Ripple Payments’ blockchain technology in conjunction with three partnering companies: Zazi Transfer for Australia, PayAngel for the U.K., and Pyypl for GCC member states.
Remittances play a significant role in cross-border payments to Africa, and Ripple’s senior vice president of global customer success, Aaron Sears, emphasized the growing adoption of crypto in Sub-Saharan Africa. He highlighted the use of digital assets for everyday purposes in countries like Nigeria, Kenya, and South Africa.
Pyypl is already a Ripple partner in its on-demand liquidity (ODL) solution, and Onafriq is reported to have integrated ODL as well.
Hot Take: Ripple’s Expansion in Africa Signals Crypto Adoption
Ripple’s new partnership with Onafriq demonstrates the increasing adoption of cryptocurrency for real-world transactions in Africa. By leveraging blockchain technology for cross-border payments, Ripple is facilitating easier and more efficient remittances between African countries and key international corridors. This move not only highlights the potential for crypto adoption in emerging markets but also showcases the practical applications of digital assets in everyday financial transactions.
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