Ripple Expands Global Payment Services, Announces New Partnership with Onafriq

Ripple, a prominent cryptocurrency firm, has announced at its Ripple Swell event in Dubai the launch two major initiatives to broaden its operations within the U.S. and Africa. The company has introduced Ripple Payments, a new platform targeting corporate clients lacking their own money transmitter licenses. Additionally, Ripple has established a collaboration with the African fintech Onafriq, which was previously recognized as MFS Africa.

Ripple Payments is engineered to ease the process of international transactions for those not well-versed in blockchain and digital currency intricacies. Brendan Berry, Ripple’s Head of Payment Products, termed the platform an “elegant solution,” enabling customers to commence payment transfers instantly. This platform is tailored to streamline global payments for companies dealing with international suppliers, vendors, or employees. Presently, Ripple’s customer base spans over 50 countries across six continents.

Onafriq, a key player in mobile money transfers in Africa, has teamed up with Ripple to boost crypto-based international payments from regions like the UK, Australia, and the Gulf Cooperation Council. Onafriq’s extensive network covers 27 African nations and connects more than 500 million mobile wallets. With Ripple Payments, entities such as PayAngel in the UK, Pyypl in the GCC, and Zazi Transfer in Australia can execute transactions within Onafriq’s network.

Onafriq will integrate Ripple Payments’ blockchain technology with its three corporate partners. Aaron Sears, Ripple’s senior vice president of global customer success, identifies Sub-Saharan Africa as a significant region for crypto utilization, envisioning that this alliance will amplify the practical use of digital currencies.

Ripple’s expansion into fresh markets, coupled with the Onafriq alliance, underscores the firm’s dedication to improving the accessibility and proficiency of international payments.