In the latest move set to transform cross-border payments, Ripple, a pioneer in blockchain and crypto solutions, has teamed up with leading fintech Onafriq to power new payment corridors connecting 27 African countries with the United Kingdom, Australia, and the Gulf Cooperation ...
Ripple Partners Onafriq For Cross-Border Payments
Under this collaboration, three partner companies are stepping up to the plate, including PayAngel in the UK, serving as a crucial link for individuals and businesses seeking efficient remittance and payment services to Africa. In addition, it would include Pyypl in the GCC, extending the benefits of faster and more cost-effective cross-border payments to member states in the Gulf Cooperation Council (GCC), including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
Besides, the partnership will also involve Zazi Transfer in Australia to offer a secure and low-cost remittance channel between Africa and the Australian continent.
Meanwhile, this strategic partnership is expected to reshape the landscape of international money transfers. By harnessing Ripple’s cutting-edge crypto technology, Onafriq aims to address the persistent issues of lengthy transfer times, unreliability, and excessive costs that have long plagued cross-border payments.
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Advancing Financial Inclusion Across Africa
Onafriq holds the distinction of having the most extensive mobile money movement network across Africa, connecting over 500 million mobile wallets in 40 African countries. It operates through an impressive network of more than 1,300 payment corridors, promoting regional payment interoperability and seamless cross-border transactions.
Meanwhile, in a world where mobile money is a driving force for financial inclusion, this partnership promises to accelerate the flow of funds and foster economic growth across the African continent.
Meanwhile, the partnership with Ripple aligns with this vision, enabling fast, secure, and cost-effective remittances at scale and marking a significant step in Onafriq’s crypto strategy to leverage blockchain technologies for the greater good of businesses and individuals across Africa.
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