Blockchain News

Ripple Expands into Africa with New Cross-Border Payments Solution

Ripple has partnered with African fintech firm Onafriq

Ripple, a leading provider of cryptocurrency-based payment solutions, is expanding its reach with new initiatives aimed at simplifying cross-border transactions.

The company has upgraded its Ripple Payments service to make it more accessible to non-crypto-savvy businesses, particularly in the United States.

Additionally, Ripple has partnered with African fintech firm Onafriq to facilitate faster and cheaper money transfers between Africa and other regions.

Ripple Payments is designed to streamline cross-border payments for businesses of all sizes, regardless of their familiarity with crypto.

The service has been enhanced to simplify integration for US and select international companies, leveraging Ripple’s regulatory licenses in these jurisdictions.

This enhanced ease of use is expected to attract a wider range of businesses that need to make payments across borders.

Ripple’s partnership with Onafriq, a prominent African fintech company, aims to address the challenges of sending money to Africa.

Through this collaboration, customers of certain companies in the UK, GCC, and Australia will be able to send money to Africa more quickly and affordably.

Onafriq’s extensive mobile money network, connecting over 500 million wallets across 40 African countries, will play a crucial role in ensuring seamless and cost-effective transfers.

These new initiatives underscore Ripple’s commitment to expanding its reach and making cross-border payments more accessible and efficient for businesses around the world.

With its enhanced Ripple Payments service and partnership with Onafriq, Ripple is poised to make a significant impact on the global payments landscape.

Recently, Ripple announced the approval of XRP for use in Dubai’s finances. Ripple took to X to announce that the Dubai Financial Services Authority (DFSA) has given the green light on the use of the native token (XRP).

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