- Ripple partners with Onafriq, enabling cross-border payment services between Africa and other new crypto markets.
- Onafriq connects with payment giants like PayAngel in the UK, Zazi Transfer in Australia, and Pyypl in the GCC.
- The partnership aims to facilitate easier and safer cross-border payments, eliminating the traditional system’s challenges.
Ripple announced its alliance with leading payments fintech Onafriq at Swell, Ripple’s annual conference in Dubai. Through the alliance, Ripple aims to extend digital asset-enabled cross-border payments in Africa and several other markets.
As per Ripple’s press release, the CEO of Onafriq, Dare Okoudjou, stated that the partnership focuses on eliminating the challenges of traditional cross-border payments, including unreliability, longer transfer times, and high expenses.
Reportedly, Ripple and Onafriq are partnering to facilitate crypto-enabled cross-border payments between 27 African countries and several other crypto markets, including the United Kingdom, Australia, and the Gulf Corporation Council (GCC). Onfariq connects with three payment companies- PayAngel in the UK, Zazi Transfer in Australia, and Pyypl in the GCC. The payment giant’s mission is to make “borders matter less” by using Ripple’s Ripple Payments. Okoudjou asserted,
These connections are set to enable fast, secure, and low-cost remittances at scale between Africa and the rest of the world, and represent a bold first step for our crypto strategy to leverage blockchain technologies to amplify our impact on people and businesses on the continent.
The initiative fosters providing transfer services to the customers of PayAngel, Zazi Transfer, and Pyypl, thereby expanding Ripple Payments’ reach to the UK, Australia, and the GCC member states Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Reflecting on their vision, Aaron Sears, SVP of Global Customer Success at Ripple, stated, “Connecting our partners PayAngel, Pyppl and Zazi Transfer with Onafriq over Ripple Payments will bring the benefits of faster and more cost-effective cross-border payments to individuals seeking to send money into Africa from around the globe.”
Onafriq, launched in 2012, is one of the prominent payment network players in the African continent. The platform was initially known as MFS (Mobile Financial Services) Africa and was recently rebranded to Onafriq.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.