Ripple has announced a new partnership with Chipper Cash to enhance cross-border transactions in Africa using blockchain technology. The goal is to provide faster, cheaper, and more efficient payments.
The agreement, announced on March 27, involves the integration of Ripple Payments into Chipper Cash’s international transfer system, a leading platform in payment services in Africa.
This step is significant both for the expansion of Ripple on the continent and for the growing adoption of blockchain in the remittance sector.
The expansion of Ripple and blockchain in Africa through Chipper Cash
According to Reece Merrick, director of Ripple for the Middle East and Africa, the partnership establishes an important precedent for the company in its growth efforts in the emerging African economies.
Merrick emphasized that more and more companies and consumers are recognizing the advantages of blockchain technology in managing financial transactions.
Africa is experiencing a growing adoption of blockchain, especially in payment systems and international remittances.
A recent report by Chainalysis revealed that stablecoins now account for almost half of the total transaction volume in sub-Saharan Africa.
During 2024, it has emerged that several African economies have the potential to become hubs for digital assets, promoting financial inclusion and economic growth.
The integration of Ripple Payments on Chipper Cash aims precisely to strengthen this trend, providing a more accessible and reliable alternative to traditional cross-border payment methods.
Merrick explained:
“By integrating our technology into the Chipper Cash platform, we enable faster and more cost-effective cross-border payments, fostering economic growth and innovation in the markets served.”
The remittance market is a strategic sector for African economies, where payments from abroad represent a primary source of income for many families.
With the increase in financial digitalization and the need for more efficient solutions, companies like Chipper Cash are investing in blockchain to improve accessibility and reduce transaction costs.
Ripple accelerates international expansion
The CEO and co-founder of Chipper Cash, Ham Serunjogi, highlighted the benefits of using cryptocurrencies in cross-border payments, explaining that this technology allows for greater financial inclusion and quicker access to global markets.
Serunjogi also stated:
“Payments enabled by cryptocurrency can accelerate financial inclusion, allow access to global markets, and give greater autonomy to individuals and businesses across Africa.”
The integration with Ripple will help Chipper Cash reduce transaction times and costs for its clients.
This collaboration is part of a broader framework of Ripple’s expansion on the continent, consolidating the company’s infrastructure to manage money transfers between 27 African countries, Australia, the United Kingdom, and the Gulf Cooperation Council (GCC).
In recent months, Ripple has made significant strides in consolidating its global presence. In March, it obtained a license in Dubai to offer cryptocurrency-based payment services in the United Arab Emirates, a strategic area for the adoption of digital assets.
Beyond that, the company could intensify its activities after the recent success in the legal case against the United States Securities and Exchange Commission (SEC).
The CEO of Ripple, Brad Garlinghouse, spoke about the favorable decision for the company, stating:
“Now we have the control to decide how to proceed. This decision provides a lot of certainty for the future of Ripple.”
Conclusion
The partnership between Ripple and Chipper Cash marks a new chapter for African remittances, making them faster and cheaper thanks to blockchain technology.
With the increasingly widespread adoption of cryptocurrencies in daily transactions, Africa is positioning itself as a key player in the digital financial revolution.
The integration of Ripple Payments supports not only the growth of international transactions but also financial inclusion and access to banking services for millions of people.
With the expansion of blockchain on the continent, the payments sector is set to undergo enormous transformations in the coming years.
