- Ripple and Onafriq Partner to Launch New Payment Corridors Connecting 27 African Countries to the United Kingdom, Australia, and the Gulf Cooperation Council (GCC)
- This alliance aims to establish three innovative blockchain-based payment corridors that connect Africa to major markets, including the United Kingdom, Australia, and the Gulf Cooperation Council (GCC).
- Onafriq has the largest mobile payment network in Africa, connecting over 500 million mobile wallets across 40 countries.
Ripple Partners with Leading Fintech Company Onafriq to Launch Payment Corridors Between Countries: Here Are the Details!
Ripple Expands Payment System with New Partnership
Ripple, one of the leading names in crypto and blockchain solutions in recent times, has partnered with leading fintech company Onafriq to launch new payment corridors connecting 27 African countries to the United Kingdom, Australia, and the Gulf Cooperation Council (GCC). This partnership announcement promises to eliminate traditional barriers associated with international money transfers and provide speed, reliability, and cost-effectiveness.
Ripple, a leader in global crypto and crypto currency solutions, aims to revolutionize cross-border transactions by partnering with Onafriq, a major player in African mobile payments. This alliance aims to establish three innovative blockchain-based payment corridors that connect Africa to major markets, including the United Kingdom, Australia, and the Gulf Cooperation Council (GCC).
Under this collaboration, three partner companies are being brought on board: PayAngel, a critical connection for individuals and businesses looking for fast and cost-effective money transfer and payment services in the UK. It will also expand the benefits of faster and more cost-effective cross-border payments in the GCC by bringing Pyypl into the Gulf Cooperation Council, including GCC member countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates). Additionally, this partnership will include Zazi Transfer to offer a secure and low-cost money transfer channel between Africa and the Australian continent.
This strategic partnership is expected to reshape the landscape of international money transfers using Ripple’s cutting-edge crypto technology, which aims to address the persistent problems of long transfer times, unreliability, and excessive costs that haunt international money transfers.
Promoting Financial Inclusion in Africa
Onafriq has the largest mobile payment network in Africa, connecting over 500 million mobile wallets across 40 countries. It operates through an impressive network of over 1,300 payment corridors, thus promoting regional payment interoperability and ensuring seamless cross-border transactions. In a world where mobile payments are a driver of financial inclusion, this partnership promises to accelerate the flow of funds and stimulate economic growth across the African continent.
This significant announcement coincides with Onafriq’s Founder and CEO Dare Okoudjou taking the stage at Swell Global 2023, Ripple’s annual customer conference in Dubai. In particular, Okoudjou emphasizes his mission of making payments less expensive, more efficient, and more accessible within, to, and from Africa.
Meanwhile, this collaboration with Ripple is in line with Onafriq’s crypto strategy, which is to leverage blockchain technologies for the greater good of businesses and individuals across Africa.
In particular, Ripple has recently caught the attention of investors with several key developments. For example, last week, the National Bank of Georgia (NBG) selected Ripple Labs Inc. as the official technology partner for its central bank digital currency (CBDC) initiative, Digital Lari, creating hope among XRP fans.
