Ripple today said it was partnering with Chipper Cash, a payments provider serving across Africa, to support cross-border payments into the continent using Ripple Payments.
Ripple Payments uses XRP, to enable quicker, cheaper, and more efficient cross-border transactions than traditional financial systems using RippleNet. Chipper Cash, which boasts five million customers across nine African countries, said the move will allow consumers to speedily receive funds from around the world, around the clock – a process that’s otherwise expensive and cumbersome for users.
“Our partnership with Chipper Cash marks a key milestone in the expansion of Ripple’s business in Africa,” said Reece Merrick, Managing Director, Middle East and Africa, at Ripple, in a prepared statement. “Consumers and businesses across the continent are increasingly recognizing the potential of blockchain technology, and we are excited to bring our crypto-enabled payments solution to our partners in the region,”
Ripple’s partnership with Chipper Cash builds on its growing presence in Africa, which began with a collaboration with Onafriq, a payments network connecting African markets, in 2023.
XRP prices are down 4.5% in the past 24 hours alongside a market-wide drop.