news.bitcoin.com
Ripple has partnered with Nigerian fintech startup Chipper Cash to facilitate cross-border payments into Africa using Ripple Payments.
Crypto Payments Key to Low Cross-Border Fees
U.S.-based digital asset infrastructure provider Ripple has partnered with Nigerian fintech startup Chipper Cash to support cross-border payments into Africa using Ripple Payments. The partnership enables Chipper Cash’s millions of customers to receive funds from around the world at any time of day.
According to a statement, the partnership significantly reduces the time and friction involved in moving value into Africa. Additionally, using digital asset rails ensures that fees for transferring funds across borders will be considerably lower. Reece Merrick, managing director for the Middle East and Africa at Ripple, described the partnership with Chipper Cash as a key milestone in the company’s expansion into Africa. He added:
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. With over a decade of experience in tokenizing real-world assets, Ripple’s journey began by bringing fiat currencies on-chain to simplify international money transfers. As the global cross-border payments market grows, more institutions like Chipper Cash are tapping into the transformative power of blockchain technology to drive efficiency and innovation.
Ripple, the statement explained, is well-positioned to provide financial institutions with essential tools for tokenization, storage, exchange, and movement of digital assets. Specifically, Ripple Payments is said to offer extensive global coverage across more than 90 payout markets, handling over 90% of daily foreign exchange volume exceeding $70 billion.
Ham Serunjogi, co-founder and CEO of Chipper Cash, said crypto-enabled payments not only support financial inclusion but also help African businesses and individuals gain access to global markets. He added that the partnership with Ripple exposes Chipper Cash customers to the benefits of blockchain technology.
“By integrating with Ripple’s global payments network, we are excited to harness the transformative potential of blockchain technology to enable consumers to receive payments faster and at lower costs,” Serunjogi said.