Ripple is making a major move into Africa through a partnership with Chipper Cash, a leading payment provider. This collaboration will enable crypto-powered cross-border payments, making international transactions faster, cheaper, and more efficient.
Faster and Cheaper Cross-Border Transfers
Announced on March 27, Chipper Cash will integrate Ripple Payments into its platform. This will allow users in nine African countries to receive funds seamlessly from anywhere in the world. The goal is to reduce transaction time and costs, making financial services more accessible.
Ripple’s Growing Presence in Africa
Ripple has been expanding its reach in Africa, starting with a partnership with Onafriq in 2023. Its blockchain technology offers secure and compliant solutions for cross-border transactions, tokenization, and storage. By integrating Ripple’s infrastructure, Chipper Cash aims to enhance financial inclusion for its five million users, positioning Africa as a growing hub for digital assets.
Ripple’s Legal Victory and Market Expansion
Ripple’s expansion follows its recent legal win against the U.S. SEC, which had accused the company of raising $1.3 billion through unregistered securities offerings. Now, with regulatory hurdles cleared, Ripple is focusing on global expansion.
CEO Brad Garlinghouse highlighted the trillions of dollars flowing through the global cross-border payments market. He sees Ripple as a strong competitor to the Swift network, with blockchain technology offering a more efficient alternative.
XRP Price Outlook Amid Expansion News
Despite the positive news, XRP has faced market pressure, dropping 2.58% in the past 24 hours to $2.34. Analysts warn that if XRP falls below the $2 support level, it could decline further to $1.20.
However, long-term investors remain bullish, expecting Ripple’s growing adoption in Africa and other emerging markets to drive future growth.
