Ripple, a simple payment solution for international transactions, has partnered with Onafriq to provide quicker and cheaper money transfers throughout Africa.
The cryptocurrency payments giant Ripple is actively seeking new markets in the United States and Africa. Ripple Payments is an improved service that will facilitate transactions between businesses in the United States and other countries. They’ve also partnered with Onafriq, an African fintech company, to streamline the transfer of funds between Africa and countries like the United Kingdom and Australia.
At a huge event in Dubai, Ripple’s Payment Chief, Brendan Berry, spoke about how Ripple Payments is all about convenience. Because Ripple has its own licenses in nations like the United States, companies don’t need to be crypto-savvy to utilize it.
Traditional banking institutions have been Ripple’s primary clientele, but the company is now also accepting international payments from companies. They may make speedy payments to overseas vendors or staff using Ripple.
The collaboration with Onafriq is also quite exciting. Customers in the UK, GCC, and Australia will be able to transfer money to Africa more quickly and at a lower cost via this service. As the leader in mobile money in Africa, Onafriq has connected 500 million wallets across 40 nations.
Ripple CEO Aaron Sears thinks the partnership will make a significant impact for consumers transferring money to Africa, demonstrating how the company’s technology can revolutionize international money transfers.
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