Ripple has joined forces with African financial technology firm Chipper Cash to support cross-border payments into the continent using Ripple Payments and the XRP cryptocurrency.
This marks Ripple’s second major partnership with a payments-focused African FinTech, reinforcing its presence in the continent’s fast-growing digital payments sector.
Ripple And Chipper Cash To Transform African Remittances
According to a March 27 announcement, Chipper Cash will integrate Ripple’s blockchain-based payment solutions to enable faster, cheaper, and more efficient settlements.
With this integration, cross-border transactions will become much easier and instantaneous, as customers can receive funds from across the globe, around the clock, according to Ripple.
With 5 million customers across nine African countries, Chipper Cash aims to capitalize on the region’s booming remittance sector.
Reece Merrick, Ripple’s managing director for the Middle East and Africa, noted that the collaboration is a key step in the company’s expansion in the region. Merrick also emphasized that African consumers and businesses “are increasingly recognizing the potential of blockchain technology.”
Besides the fast and affordable payments, the alliance will boost economic growth and innovation in the markets it serves, he quipped.
“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.
Accelerating Financial Inclusion
Ham Serunjogi, Co-Founder and CEO of Chipper Cash, suggested that crypto-enabled payments can accelerate financial inclusion, offering greater access to global markets and empowering both businesses and individuals across Africa.
Ripple’s partnership with Chipper Cash builds on its expanding presence in Africa, which started with a partnership with Onafriq, a payments network connecting African markets, in 2023.
The Onafriq partnership seeks to enable digital asset-powered cross-border transactions between Africa and multiple new markets, including the Gulf Cooperation Council (GCC), the UK, and Australia.
