Ripple Partners with Chipper Cash to Enhance Cross-Border Payments in Africa
Ripple is expanding its presence in Africa through a partnership with Chipper Cash, enabling crypto-based cross-border payments. This collaboration aims to enhance remittances by providing faster and cheaper transactions.
Key Details
- Chipper Cash will integrate Ripple Payments into its platform across nine African countries.
- The partnership seeks to reduce transaction time and friction for international money transfers into Africa.
- Ripple has been increasing its footprint in Africa since 2023, collaborating with Onafriq and enhancing financial solutions for institutions.
- Chipper Cash aims to improve financial inclusion for its five million users using Ripple’s blockchain technology.
Regulatory Context
- This partnership follows Ripple's legal victory against the SEC regarding unregistered securities offerings.
- Ripple CEO Brad Garlinghouse highlights significant market opportunities post-settlement.
- The resolution allows Ripple to compete more effectively against traditional payment networks like Swift.
XRP Market Response
- XRP has dropped 2.58% in the past 24 hours, trading at $2.34.
- If XRP fails to maintain the critical support level of $2, it could decline further to $1.20.
- Long-term investors remain optimistic about Ripple's growth potential in Africa.