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Ripple XRP news

Ripple Strikes Major Deal With African Payments Giant

Jake Simmons
by Jake Simmons
5 months ago
·
Posted in XRP
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ripple Labs has announced a new partnership with the prominent fintech company Chipper Cash to streamline cross-border payments on the African continent. The agreement, disclosed today through an official press release, involves the integration of Ripple’s crypto-enabled payments technology into Chipper Cash’s platform—a collaboration that both parties believe will enhance the speed, cost-efficiency, and reliability of transactions within and into Africa.

Ripple Teams Up With Chipper Cash

According to the press release, Chipper Cash will utilize Ripple Payments, leveraging digital assets to offer users round-the-clock access to incoming funds at a lower cost than current legacy options. As a result, consumers across Chipper Cash’s footprint—spanning nine countries in Africa—are expected to benefit from significantly reduced friction when receiving money from virtually anywhere in the world.

Related Reading: Spot XRP ETF ‘Matter Of Time’: Expert Expects BlackRock To Join The Race

“Our partnership with Chipper Cash marks a key milestone in the expansion of Ripple’s business in Africa. 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,” said Reece Merrick, Managing Director, Middle East and Africa, at Ripple.

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. […] 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,” the Ripple exec added.

“Crypto-enabled payments have the potential to enable greater financial inclusion, accelerate access to global markets, and empower businesses and individuals across Africa,” said Ham Serunjogi, Co-Founder & CEO at Chipper Cash, adding “through integrating with Ripple’s global payments network, we are excited to be able to harness the transformative potential of blockchain technology to enable consumers to receive payments faster and at lower cost.”

Related Reading: Ripple Accepts SEC Settlement, Reduces Original Fine By Over Half To $50 Million

The collaboration builds on Ripple’s existing footprint in the region, which began with a partnership with Onafriq in 2023. Through these efforts, Ripple has solidified its reputation as a provider of digital asset infrastructure for financial institutions worldwide. According to the company, Ripple Payments now reaches 90+ payout markets, covering more than 90% of daily foreign exchange markets and processing over $70 billion in volume.

Chipper Cash, launched in 2018, has seen significant growth in user adoption and funding. According to its latest data, the company now serves millions of customers across Africa and beyond. Publicly released figures also show that Chipper Cash completed a $150 million Series C round in November 2021, led by FTX, pushing the startup’s valuation to around $2 billion and bringing its total capital raised to $305 million.

With nearly 300 employees distributed across a global network of offices, Chipper Cash’s headquarters remain in San Francisco, with key presences in Kenya, Nigeria, Ghana, Uganda, the UK, South Africa, Australia, Colombia, Tanzania, and Canada.

At press time, XRP traded at $2.32.

XRP price
XRP remains below the trend line, 1-day chart | Source: XRPUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Jake Simmons

Jake Simmons

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

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