FINTECH AFRICA | Ripple ($XRP) Partners with Leading African Fintech, Chipper Cash, for Crypto Cross-Border Payments

Ripple($XRP) has teamed up with African payment infrastructure provider, Chipper Cash, to facilitate crypto-enabled cross-border payments.

The fintech, which was one of the few tech unicorns in Africa prior to the collapse of FTX, will integrate Ripple Payments for its cross-border transactions. The partnership aims to deliver faster, more cost-effective, and efficient settlements for 5 million customers across Africa.

Chipper Cash provides Africans with a user-friendly and innovative mobile application that facilitates cross-border fund transfers, enables global payments using virtual cards, and offers investment opportunities in global stocks and cryptocurrencies.

Chipper Cash is currently operating in the United States and the following six African countries:

1. Ghana
2. Nigeria
3. Uganda
4. Rwanda
5. South Africa
6. Kenya
7. United States of America

Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, described the partnership as a key milestone in the company’s regional expansion. He also noted that African consumers and businesses are increasingly acknowledging the potential of blockchain technology.

Merrick further emphasized that as the remittance market expands, more companies are turning to blockchain technology to enhance operational efficiency. Meanwhile, Chipper Cash Co-Founder and CEO, Ham Serunjogi, noted that integrating crypto into the industry has significant implications for Africa.

“Crypto-enabled payments have the potential to enable greater financial inclusion, accelerate access to global markets, and empower businesses and individuals across Africa,” said Ham Serunjogi, Co-Founder & CEO at Chipper Cash.

“Through integrating with Ripple’s global payments network, we are excited to be able to harness the transformative potential of blockchain technology to enable consumers to receive payments faster and at lower cost.”

The partnership also builds on Ripple’s 2023 deal with another Africa fintech, Onafriq, also one of the world’s largest remittance services providers. Onafriq operates in 40 countries across Africa and boasts a whopping 400 million mobile wallets.

Since November 2024, Ripple’s native token, $XRP, has broken through its historical low shrugging off previous regulatory issues, to surge from $0.50 to $2.46 (as of the time of writing), a remarkable 392% increase.

This surge has propelled XRP past USDT, reclaiming its spot as the world’s third-largest cryptocurrency. Growing investor interest suggests a potential new bull market for $XRP as demand continues to climb.