By collaborating with 3 Onafriq partners, the agreement seeks to facilitate quicker and less expensive payments in 27 African nations. Under an agreement with African mobile money provider Onafriq, Ripple will enable new payment lanes in 27 African nations as well as Australia, the UK, and the GCC. Onafriq and its three partner firms will leverage the blockchain technology of Ripple Payments. Australia will be served by Zazi Transfer for transfer services, the United Kingdom by PayAngel, and the GCC member nations of Bahrain, Oman, Kuwait, Saudi Arabia, and Qatar, along with the UAE by Pyypl.
Ripple And Onafriq Venture Into New Channels To Make Payments Easier
A significant portion of transfers across borders to Africa are made up of remittances. “Sub-Saharan Africa continues to be an encouraging region of crypto usage, with users in nations like Kenya, Nigeria, along with South Africa using virtual assets for everyday life, everyday activities,” senior vice president for worldwide customer success Aaron Sears told the media.
In terms of its ODL solution, Pyypl is partners with the company already, and Onafriq has been rumored to have incorporated ODL. Up until early November, Onafriq was referred to as MFS Africa. They changed their name in June 2022 after acquiring GTP, a US company that develops software for mobile payments. In the US, MFS has developed as a corporate name that is protected by trademark. At the beginning of this year, Onafriq and Western Union reached an agreement on transactions across the border. Before its most recent update, which was unveiled on November 8 at Ripple’s Swell client event in Dubai, Ripple Payments was referred to as RippleNet.
