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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.



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