Ripple, a cryptocurrency-driven platform for transferring money and making payments, has teamed up with a financial technology company called Onafriq to enhance its ability to send money across Africa and into several Gulf nations, the United Kingdom, and Australia.
African mobile payment provider Onafriq has partnered with Ripple to establish new payment connections between 27 African countries and three other regions: Australia, the United Kingdom, and the Gulf Cooperation Council (GCC).
To make this happen, Onafriq is harnessing Ripple Payments’ blockchain technology, along with the assistance of three collaborating companies. Zazi Transfer will facilitate transfers to Australia, PayAngel will handle payments to the U.K., and Pyypl will manage transactions to the GCC countries, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
These cross-border transactions are vital for Africa, particularly remittances, which constitute a significant portion of international payments to the continent. Ripple’s Senior Vice President of Global Customer Success, Aaron Sears, highlighted the importance of these developments.
Ripple Payments used to go by the name RippleNet until its most recent update, which was unveiled during Ripple’s Swell customer event in Dubai on November 8.
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