Ripple Partners with Onafriq to Boost Cross-border Payments in Africa

Published 6 months ago

Ripple has announced a partnership with Onafriq, formerly known as MFS Africa, to facilitate digital asset-enabled cross-border payments between Africa and numerous other countries.

Utilizing Ripple’s Crypto-Payment Technology

Onafriq will use Ripple’s cryptocurrency payment technology to establish three new cross-border payment corridors linking Africa to the rest of the world. This partnership will serve customers of PayAngel in the UK, Pyypl in the Gulf Cooperation Council, and Zazi Transfer in Australia. They can now utilize this technology for remittances and business payments to recipients in 27 countries across Onafriq’s pan-African network.

Aiming for Faster, Cost-Effective International Transfers

The collaboration between Ripple and Onafriq is projected to enhance the speed, efficiency, and affordability of international money transfers to Africa. This could help in fostering financial inclusion across the continent.

Onafriq’s Mission for Africa

Onafriq’s CEO, Dare Okoudjou, stated that the company’s mission is to reduce the significance of borders when it comes to payments within, to, and from Africa. He believes that this mission is being advanced through their partnership with Ripple.