Skip to main content

Ripple Partners With Onafriq to Enable Faster Cross Border Payments to Africa

Ripple Partners With Onafriq to Enable Faster Cross Border Payments to Africa

Ripple and the Africa-focused payment fintech startup Onafriq recently said they are collaborating to enable crypto-based cross-border payments between Africa and the Gulf Cooperation Council (GCC), the U.K., and Australia. Using Ripple’s platform helps Onafriq achieve its goal of making borders “matter less when it comes to payment within, to, and from Africa.”

Accelerating Financial Inclusion

Ripple, a provider of crypto solutions for businesses, and the Africa-focused payment fintech firm Onafriq recently said they are collaborating to enable crypto-based cross-border payments between Africa and the Gulf Cooperation Council (GCC), the U.K. and Australia. Their collaboration not only brings faster and more efficient international money transfers to Africa but it also accelerates financial inclusion across the continent.

According to a press release, this partnership arrangement makes it possible for Payangel customers in the UK, Pyypl clients in the GCC, and Zazi Transfer users in Australia to send remittances to recipients across 27 countries. Commenting on his firm’s partnership with Onafriq (formerly MFS Africa), Aaron Sears, the Global Customer Success at Ripple, said:

For a number of years, Ripple has supported crypto-enabled, cross-border payments to individuals and businesses, and we are particularly excited to expand the reach of our solution into Africa thanks to our Onfriq partnership.

Dare Okoudjou, the founder & CEO at Onafriq, said using Ripple’s platform helps his firm achieve its goal of making borders that separate countries “matter less when it comes to payment within, to, and from Africa.” He also characterized the partnership, which has already enabled new connections, as the “bold first step for our crypto strategy to leverage blockchain technologies to amplify our impact on people and businesses on the continent.”

As per the press release, Onafriq has one of the largest mobile money movement footprints across Africa and this is evidenced by the fintech startup’s connection to some 500 million mobile wallets across 40 African countries. In addition, it boasts over 1,300 payment corridors on the continent.

What are your thoughts on this story? Let us know what you think in the comments section below.



from Bitcoin News https://ift.tt/vmOq2d7
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more