<ul><li>Ripple and Onafriq have formed a partnership to create new payment corridors from the GCC, UK, and Australia to Africa.</li><li>The collaboration is set to address high costs and slow processing times in traditional financial transfers, leveraging Ripple&#39;s technology.</li><li>Payments provider Rocket Fuel has also implemented Ripple’s Payment systems to improve efficiency and diverse transaction types.</li></ul>Ripple, the blockchain technology firm, has <a href="https://ripple.com/ripple-press/ripple-partners-with-onafriq-to-power-digital-asset-enabled-cross-border-payments-between-africa-and-the-rest-of-the-world/" rel="noopener noreferrer nofollow">entered</a> into a strategic partnership with African fintech leader Onafriq to revolutionize cross-border payments from the GCC, UK, and Australia into Africa. The collaboration will introduce three new financial corridors, leveraging Ripple&#39;s cryptocurrency technology to transform remittances and business payments across 27 African nations.Addressing the longstanding issues of high costs, slow processing, and reliability in cross-border transactions, Onafriq&#39;s implementation of Ripple&#39;s technology is expected to significantly enhance transaction speed and affordability. Onafriq&#39;s network, which extends to over 500 million mobile wallets across 40 countries, is poised to drive financial inclusion and streamline payments throughout the continent.Aaron Sears, Ripple&#39;s SVP of Global Customer Success, has expressed excitement about the partnership&#39;s potential to improve financial transactions in Africa. The initiative is seen as a pivotal development in Ripple&#39;s mission to facilitate efficient, cost-effective cross-border payments.Dare Okoudjou, CEO of Onafriq, has emphasized the company&#39;s commitment to reducing the impact of borders on payment transactions within, to, and from Africa. The partnership with Ripple is a strategic move to harness blockchain technology to enhance Onafriq&#39;s impact on the continent&#39;s financial services sector.Read full article at<a href="https://cryptotale.org/ripple-and-onafriq-set-to-transform-african-remittances-with-new-payment-corridors/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Ripple and Onafriq Set to Transform African Remittances with New Payment Corridors

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