Ripple Collaborates to Power Payments Corridors Between Africa and Rest of the World Crypto payments giant
Ripple has partnered with fintech Onafriq for cross-border payments between Africa and the rest of the world. The deal would facilitate crypto-enabled cross-border payments
between 27 African countries and markets including the UK, Australia, and the Gulf. Per the company press release,
Onafriq utilizes Ripple’s blockchain payments technology to establish three new payment corridors.
Onafriq would establish alliances with customers of PayAngel in the U.K., Pyypl in the Gulf Cooperation Council (GCC), and Zazi Transfer in Australia. The company made the announcement
on Wednesday at Swell, Ripple’s annual conference, in Dubai.
Dare Okoudjou, CEO at Onafriq, noted that
the company aims to “make borders matter less” in terms of payments.
“These connections enable fast, secure and low-cost remittances at scale between Africa and the rest of the world. It represents a bold step for our crypto-strategy to leverage blockchain to amplify our impact on people and businesses.” Onafriq is a leading
mobile payments fintech in Africa, recently rebranded from MFS Africa. The rebranding mirrors Onafriq’s evolution to expand its services beyond mobile finance
to become a versatile omnichannel platform, it noted.
