Signals a shift toward community-centric, digitally driven financial solutions.
Promotes inclusive growth by lowering barriers to global market participation.
Could challenge entrenched remittance giants while spurring regulatory modernization.
Ripple, a provider of digital asset infrastructure for financial institutions, announced on Thursday, it has partnered with Chipper Cash, an African payments company.
Africa’s payments landscape is evolving—and crypto-enabled transactions are at the center. @chippercashapp and Ripple are teaming up to enable faster, more cost-effective cross-border payments into Africa using Ripple Payments.https://t.co/tA1hO4mtyG
In a statement shared with Cryptonews, the firm said this deal looks to streamline cross-border payments into Africa using Ripple Payments, a blockchain-powered solution designed to enhance transaction speed, reduce costs, and increase efficiency.
Chipper Cash, which serves five million customers across nine African countries, will begin using Ripple’s crypto payments tech to facilitate money transfers.
This will allow individuals and businesses to receive funds from around the world 24/7, 365 days a year, said the firm.
This partnership is a huge step in Ripple’s expansion across Africa, a continent where remittances play a crucial role in economic growth.
The firm recognises Africa has one of the highest remittance costs globally, often exceeding 7% per transaction, according to the World Bank.
By utilizing blockchain technology, Ripple and Chipper Cash aim to lower these costs and increase financial accessibility for millions of people.
Ripple Invests in Africa’s Digital Payment Infrastructure
“Our partnership with Chipper Cash marks a key milestone in the expansion of Ripple’s business in Africa,” said Reece Merrick, Managing Director for the Middle East and Africa at Ripple.
“Consumers and businesses across the continent are increasingly recognizing the potential of blockchain technology, and we are excited to bring our crypto-enabled payments solution to our partners in the region,” he added.
This partnership follows Ripple’s previous collaboration with Onafriq, formerly known as MFS Africa, in 2023.
By integrating Ripple Payments, Chipper Cash says it seeks to provide faster, more affordable cross-border transactions, helping drive economic growth and innovation across Africa.
Financial Inclusion Through Blockchain
“Crypto-enabled payments have the potential to enable greater financial inclusion, accelerate access to global markets, and empower businesses and individuals across Africa,” says Ham Serunjogi, Co-Founder and CEO of Chipper Cash.
“Through integrating with Ripple’s global payments network, we are excited to harness the transformative potential of blockchain technology to enable consumers to receive payments faster and at lower cost,” adds Serunjogi.
Ripple Payments covers over 90 payout markets and processing over $70 billion in transaction volume.
With regulatory licenses and registrations worldwide, Ripple said it offers a secure and compliant digital asset infrastructure allowing financial institutions to tokenize, store, exchange, and move digital assets efficiently.
Ripple Settles With SEC Paying $50M
Earlier this week, Ripple has settled with the U.S. Securities and Exchange Commission (SEC), agreeing to pay a $50 million penalty and withdraw its cross-appeal in the long-running lawsuit.
How does this deal redefine the role of blockchain in Africa’s economy?
The collaboration moves blockchain beyond cost reduction, positioning it as a catalyst for sustainable development, bridging digital divides and establishing inclusive networks that empower local communities.
What potential benefits exist for underserved communities through this partnership?
By cutting transaction barriers, the deal may offer underserved communities easier access to global markets, improve liquidity for small enterprises, and foster resilience in local economies.
In what ways could this collaboration prompt regulatory or industry shifts?
The partnership may drive regulators to overhaul outdated frameworks, creating a more competitive environment that embraces digital finance and encourages innovations to transform the overall payment ecosystem.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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@chippercashapp and Ripple are teaming up to enable faster, more cost-effective cross-border payments into Africa using Ripple Payments.https://t.co/tA1hO4mtyG
@Ripple settles with the @SECGov, agreeing to pay a $50M penalty and dropping its cross-appeal, marking the near conclusion of a long-standing lawsuit.#SEC #Crypto #Ripplehttps://t.co/txqDDCnn0G