Ripple Strikes Major Deal With African Payments Giant
Ripple Labs has announced a new partnership with the prominent fintech company Chipper Cash to streamline cross-border payments on the African continent. The agreement, disclosed today through an official press release, involves the integration of Ripple’s crypto-enabled payments technology into Chipper Cash’s platform—a collaboration that both parties believe will enhance the speed, cost-efficiency, and reliability of transactions within and into Africa.
Ripple Teams Up With Chipper Cash
According to the press release, Chipper Cash will utilize Ripple Payments, leveraging digital assets to offer users round-the-clock access to incoming funds at a lower cost than current legacy options. As a result, consumers across Chipper Cash’s footprint—spanning nine countries in Africa—are expected to benefit from significantly reduced friction when receiving money from virtually anywhere in the world.
“Our partnership with Chipper Cash marks a key milestone in the expansion of Ripple’s business in Africa. Consumers and businesses across the continent are increasingly recognizing the potential of blockchain technology, and we are excited to bring our crypto-enabled payments solution to our partners in the region,” said Reece Merrick, Managing Director, Middle East and Africa, at Ripple.
By integrating our technology into Chipper Cash’s platform, we’re enabling faster, more affordable cross-border payments while driving economic growth and innovation across the markets they serve. […] As the global cross-border payments market grows, more institutions like Chipper Cash are tapping into the transformative power of blockchain technology to drive efficiency and innovation,” the Ripple exec added.
“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, adding “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 collaboration builds on Ripple’s existing footprint in the region, which began with a partnership with Onafriq in 2023. Through these efforts, Ripple has solidified its reputation as a provider of digital asset infrastructure for financial institutions worldwide. According to the company, Ripple Payments now reaches 90+ payout markets, covering more than 90% of daily foreign exchange markets and processing over $70 billion in volume.
Chipper Cash, launched in 2018, has seen significant growth in user adoption and funding. According to its latest data, the company now serves millions of customers across Africa and beyond. Publicly released figures also show that Chipper Cash completed a $150 million Series C round in November 2021, led by FTX, pushing the startup’s valuation to around $2 billion and bringing its total capital raised to $305 million.
With nearly 300 employees distributed across a global network of offices, Chipper Cash’s headquarters remain in San Francisco, with key presences in Kenya, Nigeria, Ghana, Uganda, the UK, South Africa, Australia, Colombia, Tanzania, and Canada.
At press time, XRP traded at $2.32.
Featured image created with DALL.E, chart from TradingView.com
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