Ripple has partnered with African payment infrastructure provider Chipper Cash to support crypto-enabled cross-border payments.
According to a March 27 announcement, Chipper Cash will use Ripple Payments for its cross-border transactions as part of the deal. The companies said the partnership is designed to offer faster, cheaper, more efficient settlements.
Chipper Cash. Source: Chipper Cash website
Reece Merrick, Ripple’s managing director for Middle East and Africa, said that the partnership is an important step in the firm’s expansion in the region. He also highlighted that African consumers and businesses “are increasingly recognizing the potential of blockchain technology.”
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The collaboration comes as blockchain adoption continues to grow across Africa, particularly in the remittance and payments sectors. A recent report from Chainalysis found that stablecoins now make up nearly half of all transaction volume in Sub-Saharan Africa.
Similarly, a late 2024 report suggested that a number of emerging economies across Africa have the potential to become digital asset hubs. Merrick said:
“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.”
Growing blockchain adoption in remittances
The Ripple executive further highlighted that as the remittance market grows, many companies are deciding to adopt blockchain technology because of the increased operational efficiency that it allows. Chipper Cash co-founder and CEO Ham Serunjogi said the implementation of crypto in the industry has far-reaching consequences in Africa.
“Crypto-enabled payments have the potential to enable greater financial inclusion, accelerate access to global markets, and empower businesses and individuals across Africa,” he said.
Serunjogi further explained that by integrating Ripple, Chipper Cash was able to allow its customers “to receive payments faster and at lower cost.” The partnership also expands on Ripple’s 2023 Onafriq deal, using the firm’s infrastructure to process payments between 27 African countries and Australia, the United Kingdom and the Gulf Cooperation Council.
Ripple moves forward
In March, Ripple also secured a Dubai license to offer cryptocurrency-powered payments in the United Arab Emirates. The company will also likely step up its activities following its recent win against the US Securities and Exchange Commission.
Ripple CEO Brad Garlinghouse said at the time that the decision “provides a lot of certainty for Ripple.” He added:
“We now are in the driver’s seat to determine how we want to proceed.”
Ripple and Chipper Cash did respond to Cointelegraph’s request for comment by publication time.
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