Ripple plans to launch new payment channels between 27 African countries and Australia, the UK and the Gulf Cooperation Council (GCC) under a deal with African mobile payment provider Onafriq.
Onafriq will use Ripple Payments’ blockchain technology in collaboration with three partner companies. Zazi Transfer will provide remittance services to Australia, PayAngel to the UK and Pyypl to the GCC member states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.
Remittances are the bulk of the money Cross-border remittances to Africa outside. Aaron Sears, Senior Vice President of Global Customer Success at Ripple, told Cointelegraph:
“Sub-Saharan Africa has emerged as a bright spot in crypto adoption as consumers in countries like Nigeria, Kenya and South Africa use digital assets for real, everyday purposes.”
Onafric was known as MFS Africa until early November. The company changed its name in June 2022 due to the acquisition of US mobile payment software developer Global Technology Partners. MFS is a trademarked company name in the United States. Onafric struck a deal with Western Union earlier this year on cross-border transactions.
— Ripple (@Ripple) November 7, 2023
Announced at Ripple’s Swell customer event in Dubai on November 8, Ripple Payments was formerly known as RippleNet.
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