Your reliable guide in the crypto world, providing comprehensive news and analysis on all things related to cryptocurrency.

Ripple, Onafriq partner for new payment corridors for Africa, UK, Australia and Gulf

  • Ripple will power new payment corridors between 27 African countries and Australia, the United Kingdom and the Gulf Cooperation Council (GCC) under a deal with African mobile payments provider Onafriq.
  • Onafriq will use Ripple Payments’ blockchain technology along with with three partnering companies. Zazi Transfer will provide transfer services to Australia, PayAngel will serve the U.K. and Pyypl will serve GCC member states Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
  • Remittances make up a large part of cross-border payments to Africa. Ripple senior vice president of global customer success Aaron Sears told CoinPostman:
    “Sub-Saharan Africa has proven to be a bright spot of crypto adoption, with consumers in countries like Nigeria, Kenya, and South Africa employing digital assets for real-world, day-to-day purposes.”
  • Pyypl is already a Ripple partner in its on-demand liquidity (ODL) solution, and Onafriq is reported to have integrated ODL as well.
  • Onafriq was known as MFS Africa until early November. It changed its name because of its purchase of U.S. mobile payment software developer Global Technology Partners in June 2022. MFS is a trademarked company name in the United States. Onafriq struck a deal with Western Union on cross-border transactions earlier this year.

Ripple Payments was known as RippleNet before its latest upgrade, which was announced at Ripple’s Swell customer event in Dubai on Nov. 8.

Share this article
Shareable URL
Prev Post

Ex-Cantor execs launch crypto lending platform in expectation of Bitcoin ETFs

Next Post

2 years after John McAfee’s death, widow Janice is broke and needs answers – Cointelegraph Magazine

Leave a Reply

Your email address will not be published. Required fields are marked *

Read next