Ripple Partners with Chipper Cash to Enhance Cross-Border Payments in Africa
Ripple, a leader in digital asset infrastructure for financial institutions, has announced a partnership with Chipper Cash, a leading African payments provider founded in 2017. This collaboration aims to enhance cross-border payments into Africa by leveraging Ripple Payments, a crypto-enabled solution that utilizes the XRP Ledger blockchain and XRP to facilitate faster, more cost-effective, and more efficient international transactions.
With five million customers across nine African nations, including Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya, Chipper Cash plays the role of providing seamless financial services across the continent. This eliminates traditional barriers such as time delays, high transaction fees, and inefficiencies in cross-border money transfers.
“Our partnership with Chipper Cash marks a key milestone in Ripple’s expansion across Africa. Consumers and businesses on the continent are increasingly recognizing the potential of blockchain technology. By integrating our solutions into Chipper Cash’s platform, we are enabling faster, more affordable cross-border payments while fostering economic growth and financial innovation,” said Reece Merrick, Managing Director of Middle East and Africa at Ripple.
As the global cross-border payments market expands, more financial institutions are adopting blockchain solutions to improve efficiency and reduce costs.
Ham Serunjogi, Co-Founder & CEO of Chipper Cash, highlighted the impact of crypto-enabled payments, emphasizing their role in driving financial inclusion, expanding access to global markets, and empowering businesses and individuals across Africa. He described Chipper Cash’s integration with Ripple’s network as a major step toward providing faster and more affordable payment solutions.
By integrating Ripple Payments, Chipper Cash joins a robust global network that processes over $70 billion in transaction volume, provides access to 90+ payout markets, and covers more than 90% of daily FX markets.
Ripple’s Growing Presence in Africa
This partnership further strengthens Ripple’s presence in Africa, building on its 2023 collaboration with Onafriq (formerly MFS Africa), a leading pan-African payments fintech, to facilitate digital asset-enabled cross-border payments between Africa and new markets, including the Gulf Cooperation Council (GCC), the UK, and Australia.
Building on this, XRP Healthcare has revealed its acquisition of Uganda’s leading retail and wholesale pharmacy chain, Pharma Ville, as it advances its expansion into Africa’s booming $259 billion healthcare sector by 2030. Additionally, the company is exploring opportunities in Africa’s AI-driven digital health market, which is projected to hit $16.6 billion.
Additionally, Ripple finally closed its long-standing lawsuit with the U.S. Securities and Exchange Commission (SEC), a case that began in December 2020. The company agreed to drop its appeal after paying $50 million of the $125 million total penalty, eliminating legal uncertainties surrounding XRP and making it more attractive for institutional adoption. XRP is trading at $2.45, which is 38.36% below its all-time high of $3.84. However, its trading volume has surged 17.30% in the past 24 hours, reaching $3.21 billion.
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