- Ripple partners with Chipper Cash to enable faster, cheaper crypto-based cross-border payments in Africa.
- Chipper Cash users can now receive global payments 24/7, improving financial access and efficiency.
- The partnership expands Ripple’s presence in Africa, following its 2023 deal with Onafriq.
Ripple has announced a partnership with Chipper Cash to enable faster and more cost-effective crypto-enabled payments across Africa. Announced on the 27th of March, the partnership will integrate Ripple Payments into Chipper Cash’s platform in order to increase the transaction efficiency.
Using blockchain technology, the collaboration is expected to streamline international money transfers. Currently, Chipper Cash operates in nine countries, covering over five million users, and now it will provide crypto-enabled payments 24/7. The Ripple executives pointed out that this is in line with the company’s efforts to expand to Africa.
Blockchain Boosts Cross-Border Transactions
This new partnership is certainly another step towards the large call for blockchain adoption in Africa relating to payments and remittances. Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, described the partnership as a significant step to expand Ripple’s presence in Africa. He mentioned the growing awareness about blockchain in the region and the efficiency that Ripple’s technology provides with cross-border payments.
Co-founder and CEO of Chipper Cash, Ham Serunjogi, also shared the same sentiment, saying that crypto-based transactions give global market access. He noted that the integration would also bolster financial inclusion, cutting down on the amount of transaction time and expenditure.
Expanding Ripple’s Footprint in Africa
This collaboration follows Ripple’s already expanded presence on the continent with its previous partnership with Onafriq in 2023. The Onafriq deal allowed payments between 27 African countries and regions, including Australia, the United Kingdom, and the Gulf Cooperation Council.
Ripple Payments covers near global markets with $70 billion in transaction volume across 90 payout markets, which makes over 90% coverage of the daily FX markets. Its infrastructure supports tokenizing, storing, and exchanging digital assets to financial institutions. With over a decade of experience in the market, Ripple has over 60+ regulatory licenses in different administrations, giving it a significant stronghold in the landscape of global finance.
The increasing use of blockchain for remittances aligns with broader trends in Africa. A recent Chainalysis report found that stablecoins account for nearly half of all transaction volume in Sub-Saharan Africa. Additionally, emerging economies in Africa have been identified as potential digital asset hubs due to their growing interest in blockchain solutions. This reflects the region’s growing reliance on digital assets for cross-border transactions.
Ripple Expands Globally
Ripple has also made progress in other markets beyond Africa. In March, the company received a license in Dubai to offer cryptocurrency-based payments in the United Arab Emirates. Reaching regulatory approval in the Middle East supports the overall strategy to extend its reach globally.
In addition, the company has also gained momentum from the recent legal victory against the U.S. Securities and Exchange Commission, providing more clarity on its operations. This victory gives certainty to Ripple’s future direction, Ripple CEO Brad Garlinghouse said.
With blockchain adoption rising, Ripple and Chipper Cash’s collaboration could serve as a model for other financial institutions looking to improve payment solutions in emerging markets.
