- Ripple and Onafriq partner to revolutionize cross-border payments for Africa and key markets.
- Ripple Payments technology accelerates efficient, cost-effective international money transfers.
- Onafriq’s expansive mobile money network paves the way for secure and low-cost remittances.
In a significant partnership, Ripple, a leader in enterprise blockchain solutions, has joined forces with prominent payments fintech Onafriq (formerly MFS Africa) to empower digital asset-enabled cross-border payments.
Read CRYPTONEWSLAND on
google news
This collaboration aims to enhance international money transfers between Africa and various emerging markets, including the Gulf Cooperation Council (GCC), the United Kingdom, and Australia.
Leveraging Ripple Payments, Onafriq is creating three new payment pathways connecting Africa with the rest of the world. This development enables customers of UK-based PayAngel, GCC’s Pyypl, and Australia’s Zazi Transfer to execute swift and cost-effective remittances and business payments to recipients spanning 27 countries within Onafriq’s expansive pan-African network.
Ripple’s cutting-edge crypto technology contributes to eliminating the conventional challenges linked to cross-border payments, such as extended transfer durations, unreliability, and excessive fees. The Ripple and Onafriq partnership is set to introduce more efficient and affordable international money transfer solutions to Africa, furthering the cause of financial inclusion across the continent.
Aaron Sears, SVP of Global Customer Success at Ripple, expressed excitement about broadening their crypto-enabled, cross-border payment solution into Africa through this collaboration. It brings the advantages of faster and cost-effective cross-border payments to individuals worldwide looking to send money to Africa.
Onafriq boasts the largest footprint for mobile money movement across Africa, making mobile money a key driver of financial inclusion and access to financial services on the continent. With a payment hub linking over 500 million mobile wallets in 40 African nations and operating across 1,300 payment corridors, Onafriq plays a pivotal role in regional payment interoperability and seamless cross-border transactions.
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
