Ripple, a fintech company specializing in crypto-enabled payments, has partnered with Chipper Cash, a major African payments platform, to make cross-border payments across the continent faster and cheaper.
A Game Changer for African Transactions
This partnership will integrate Ripple’s technology into Chipper Cash’s existing platform. This means users in nine African countries will get their money faster and for less than with traditional methods. The goal is to significantly reduce the hassle of receiving money from anywhere in the world.
What the Companies Say
Reece Merrick from Ripple highlighted this as a major step in expanding their business in Africa, emphasizing the growing interest in blockchain technology on the continent. He believes this partnership will boost economic growth and innovation.
Ham Serunjogi, co-founder and CEO of Chipper Cash, shared similar enthusiasm. He sees crypto-enabled payments as a key to greater financial inclusion and access to global markets for businesses and individuals in Africa. He’s excited about using Ripple’s network to offer faster and cheaper payments.
A Growing Partnership
This collaboration builds on Ripple’s existing presence in Africa, which started with a partnership with Onafriq in 2023. Ripple’s payment system now covers a huge number of markets, processing billions of dollars in transactions.
About Chipper Cash
Chipper Cash, founded in 2018, has quickly grown, boasting millions of users across Africa and beyond. The company has secured significant funding, including a $150 million Series C round in 2021, valuing the company at around $2 billion. They have offices worldwide, with headquarters in San Francisco and key locations across Africa, the UK, Australia, and Canada.
The Bottom Line
This partnership promises to revolutionize how people and businesses send and receive money in Africa, leveraging the speed and efficiency of blockchain technology.
