Cryptocurrency payments giant Ripple has announced two major initiatives aimed at expanding its business footprint in both the United States and Africa.
Ripple Introduces New Payment Platform and Establishes Important Partnership in Africa
In the announcement made during an event in Dubai, Ripple introduced a revamped payment platform called Ripple Payments.
This new service is strategically designed to attract a new segment of US corporate customers and provide them with seamless cross-border payment solutions.
Ripple's Head of Payment Products, Brendan Berry, emphasized the user-friendly nature of the platform and said:
“We abstract away all the complexity of interacting with digital assets and any blockchain-related knowledge or know-how and provide customers with an elegant solution so they can start sending payments immediately.”
This development is poised to facilitate cross-border payments for companies, enabling more efficient transactions with suppliers, vendors and overseas employees.
Ripple currently serves customers in more than 50 countries on six continents. While the Ripple Payments solution is initially available in the US, there are plans to expand its reach to more regions next year.
In parallel, Ripple also announced a strategic partnership with African fintech leader MFS Africa, which has now rebranded as Onafriq.
The collaboration will primarily focus on facilitating cross-border crypto payments between Africa and key markets such as the UK, Australia and the Gulf Cooperation Council.
*This is not investment advice.