Ripple Strikes New Partnership To Enable Cross-Border Payments
Payments company Ripple has launched a new partnership to help enable cross-border payments between Africa and a slew of other markets.
Ripple says in a new press release that it is partnering with Onafriq, a fintech firm with a network spanning 40 African markets.
Onafriq will use Ripple’s crypto-enabled payments technology to launch payment corridors between 27 African countries and the United Kingdom (UK), Australia and the Gulf Cooperation Council (GCC). The GCC is an intergovernmental body that represents the United Arab Emirates (UAE), Bahrain, Saudi Arabia, Oman, Qatar and Kuwait.
Dare Okoudjou, Onafriq’s founder and chief executive, says the new Ripple partnership supports his company’s mission of decreasing the importance of borders when it comes to payments to and from Africa.
“These connections are set to enable fast, secure and low-cost remittances at scale between Africa and the rest of the world, and represent a bold first step for our crypto strategy to leverage blockchain technologies to amplify our impact on people and businesses on the continent.”
The 27 African countries included in the new partnership are 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.
