Ripple and Chipper Cash Team Up to Improve African Payments
Ripple has joined forces with Chipper Cash in a move designed to expedite and reduce the cost of cross-border payments throughout Africa. The partnership, unveiled on March 27, will integrate Ripple’s blockchain-based payment technology into Chipper Cash’s platform. This will give Chipper Cash’s millions of users across nine African countries greater access to streamlined international money transfers using digital assets.
The integration aims to address a critical need in the region by enabling Africans to receive funds from abroad more efficiently and affordably. The collaboration is expected to reduce the time and expense associated with traditional international transfers, according to the two companies.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, noted the rapidly growing interest in blockchain technology across the continent. He emphasized the value of blockchain, particularly in areas where traditional banking services are limited.
“By integrating our technology into Chipper Cash’s platform, we’re enabling faster, more affordable cross-border payments while driving economic growth and innovation across the markets they serve,” Merrick explained.
Ham Serunjogi, Chipper Cash Co-Founder and CEO, expressed his enthusiasm about the partnership. He highlighted the potential of blockchain technology to improve financial inclusion and support broader economic empowerment.
“Crypto-enabled payments have the potential to enable greater financial inclusion, accelerate access to global markets, and empower businesses and individuals across Africa,” Serunjogi stated.
The strategic alliance between Ripple and Chipper Cash seeks to build on Ripple’s existing presence in Africa. In 2023, Ripple established a partnership with Onafriq to introduce similar services, marking the beginning of its regional expansion.
Ripple’s Global Expansion and Impact
Ripple’s efforts to improve international payments extend beyond Africa. The company has forged significant partnerships and secured key licenses worldwide.
For example, Ripple recently partnered with Unicâmbio, a financial services provider in Portugal. This collaboration leverages Ripple’s crypto-powered technology to improve payment corridors between Portugal and Brazil.
The firm also obtained a license from the Dubai Financial Services Authority (DFSA), making it the first blockchain payment provider to receive such approval.
According to Ripple, these initiatives have expanded its digital asset infrastructure, enabling support for over 90 payout markets, which cover more than 90% of the global foreign exchange (FX) market. The platform has processed over $70 billion in transaction volume, solidifying its position as a major player in the blockchain-based finance sector.
