Ripple Payment Network to Support Remittances Among 27 African Countries

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Cointime2023/11/08 19:33

By:Cointime

Ripple has teamed up with UK-based fintech company Onafriq to expand remittance corridors across Africa, the UK, Australia, and the Gulf States. The partnership will use Ripple's private network, Ripple Payments, to offer a faster and more cost-effective alternative to traditional remittance processes. The move is aimed at reducing high fees and slow transaction times for remittance senders, particularly the African diaspora. The partnership highlights the growing acceptance of blockchain">blockchain technology in financial services and comes at a time when Africa is witnessing a surge in mobile money platforms and fintech innovation.

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