Ripple teams up with Chipper Cash to expand cross-border payments in Africa

Ripple united his forces with Chipper Cash to bring cross -border payments powered by crypto in Africa.

Ripple established a partnership with Chipper Cash, a cross -border payment application, to allow money transfers powered by Crypto Africaaimed at making “faster cross -border payments, cheaper and more effective”.

In a blog ad Ripple said on Thursday that the partnership is bringing its offers to the five million Chipper Cash customers in nine countries across Africa. Reece Merrick, Director General of Ripple for the Middle East and Africa, commenting on partnership noted that companies and consumers in the region are increasingly recognizing the potential of blockchain technology “.

“As the global cross -border payments market increases, more institutions like Cash Craper draw from the transformative power of blockchain technology to stimulate efficiency and innovation.”

Reece Merrick

Despite the announcement, the Ripple XRP (Xrp) The token is negotiated by 4.15% to $ 2.36, its market capitalization remaining at $ 137.5 billion.

The partnership follows Ripple’s recent decision to delete its appeal against the American Securities and Exchange committee. Ripple’s legal director Stuart Alderoty said the two parties had agreed to withdraw their calls and were satisfied with a reduced fine, reducing the initial penalty from $ 125 million to $ 50 million.

However, like Crypto.News reported Earlier, the regulations still require the approval of the Commission. The final documentation and legal proceedings must also be completed before the case, which started in December 2020, is officially closed.