Ripple Partners With Africa-Focused Remittances and Payments Firm MSF Africa

Ripple Partners With Africa-Focused Remittances and Payments Firm MSF Africa

Ripple, the United States-based tech firm, has said its crypto solution known as “on-demand liquidity” is set to help MSF Africa “streamline real-time mobile payments for customers in 35 countries.” The evolution of Ripple’s partnership with MSF Africa, which has 800 payment corridors across the continent, will ostensibly see the whole region getting a chance to reap “the financially inclusive benefits.” Enabling Faster, Low-Cost Remittances

The United States-based technology company, Ripple, announced on Nov. 14 that it had formed a partnership with MSF Africa that is expected to help “streamline [MSF Africa’s] real-time mobile payments for their customers across 35 countries.” As part of the agreement, MSF Africa, a leading fintech group on the continent, will use Ripple’s crypto solution known as on-demand liquidity (ODL).

Commenting on MSF Africa’s decision to partner with Ripple, the mobile financial solutions company’s CEO, Dare Okoudjou, said: MFS Africa’s mission is to make borders matter less when it comes to payment within, to, and from Africa. We’re delighted to advance this mission through our partnership with Ripple to enable fast, secure and low-cost remittances, at scale.

The CEO added that his firm’s partnership with Ripple represents its first attempt at using blockchain technologies “to amplify our [MSF Africa’s] impact on consumers and businesses on the continent growth in a new economy.”

Meanwhile, in their Nov. 14 blog post, the Ripple team, which described the partnership as a “win for financial inclusion in Africa,” insisted that ODL is helpful to “markets that often struggle with liquidity sourcing.”

The team added that the evolution of the arrangement between Ripple and MSF Africa, which has 800 payment corridors across the continent, will see the “entire region stand to reap the financially inclusive benefits.”

Register your email here to get a weekly update on African news sent to your inbox:

Tags in this story Blockchain, Dare Okoudjou, financial inclusion, MSF Africa, On-Demand Liquidity (ODL), remittances, Ripple

What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Egyptian Fintech Raises $31 Million in Series B Funding Round FINTECH | Nov 9, 2022 Mastercard Study: African Fintech Sector Had One of the Highest Year-on-Year Growth Rates in Funding in 2021 FINTECH | Nov 1, 2022

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleMEXC Global Now Exceeds 10 Million Users; The Meaning Behind the Upgrade Color to ‘Ocean Blue’ Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTony Hawk"s Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin