Ripple has partnered with Chipper Cash to facilitate cross-border payments into Africa. The collaboration will use Ripple Payments, a digital asset-based solution designed to reduce costs and processing times.

Ripple has also secured a regulatory license from the Dubai Financial Services Authority (DFSA), becoming the first digital asset-based payments provider authorized to operate in the Dubai International Financial Centre (DIFC). The license allows the company to offer regulated crypto payment services to businesses in the UAE. The company states that it serves about 20% of its global customer base in the region.

Ripple Expands Payments in Africa

"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," said Reece Merrick, Managing Director, Middle East and Africa, at Ripple.

Ripple previously expanded its payments operations in Africa through a partnership with Onafriq in 2023. The company claims to provide digital asset infrastructure for financial institutions, covering over 90 payout markets. It reports processing more than $70 billion in transaction volume and holding over 60 regulatory licenses globally.

"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," Merrick added.

Chipper Cash Leverages Ripple for Cross-Border Payments

Chipper Cash, which operates in nine African countries and serves five million customers, will use Ripple’s crypto-enabled payments solution to facilitate global fund transfers. The integration aims to provide 24/7 access to cross-border payments while reducing transaction time and costs.

Source: Finance Magnates