- Ripple partners with Chipper Cash to boost efficiency in African cross-border payments.
- Blockchain-based Ripple Payments offer instant, low-cost transactions in Africa.
- Partnership expands Ripple’s African presence, enhancing financial inclusion efforts.
Ripple announced its new strategic partnership with Chipper Cash. This collaboration aims to streamline cross-border payments into Africa by leveraging Ripple’s innovative payments solution. Ripple’s blockchain-based technology offers quicker and more cost-effective international transactions, marking a significant advancement for digital financial services in Africa.
Instant Payment Solutions
Chipper Cash offers its services in nine African countries and now serves over five million customers. This will, in turn, help Chipper Cash provide fast, secure cross-border transactions to its users by integrating Ripple’s payment solutions. This means that the customers will be able to transact, that is, send and receive their funds, at any time of the year and not be restricted by time of the day, week, or month.
This partnership is considered effective in addressing problems of international financial transactions that have persisted for a long time. Historically, the process of transferring money to Africa has not been cheap nor very fast. Ripple’s technology minimizes these problems; therefore, it is more affordable and quicker to enable people and firms to transfer money across borders.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted the importance of this development. Merrick emphasised the growing interest in blockchain among businesses and consumers across Africa. He noted that incorporating Ripple’s technology into Chipper Cash’s existing services would create efficient and affordable cross-border payment solutions.
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According to the Chipper Cash CEO and co-founder, Ham Serunjogi, blockchain payments could greatly improve the inclusion of the population on the African continent in the international financial system. Serunjogi pointed out that the integration of Ripple technology enables making remittances cheaper and faster through Chipper Cash. He expects this to create value for the user and the businesses by breaking barriers to the international markets.
Ripple’s African Expansion
This partnership with Chipper Cash is another significant step for Ripple in the company’s ongoing diversification effort in Africa. Thus, Ripple first emerged on the African continent in 2023 by partnering with Onafriq. This action remains a sign of Ripple’s interest in developing payment structures in the African markets.
Currently, Ripple Payments is available in over 90 payout markets and is responsible for $70+ billion in annual volumes. Ripple offers its clients a prominent digital asset management solution to streamline digital assets, including tokenization, storage, and exchange. It also has over 60 licenses around the world, which further cements Ripple’s solid compliance and reliability.
