Key Takeaways
- Africa’s remittance market is projected to exceed $100 billion in inflows this year.
- This is Ripple’s second partnership with an African FinTech firm focused on cross-border payments.
- Africa’s financial services revenue is projected to hit $230 million in 2025.
Ripple (XRP) has partnered with African financial technology firm Chipper Cash to strengthen the region’s FinTech and remittance industry.
This marks Ripple’s second major partnership with a payments-focused African FinTech, reinforcing its presence in the continent’s fast-growing digital payments sector.
The Ripple Effect
Chipper Cash announced that it will integrate Ripple’s blockchain-based payment solutions to enable fast, seamless cross-border transactions.
With 5 million customers across nine African countries, Chipper Cash aims to capitalize on the region’s booming remittance sector.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted the significance of this expansion:
“As the global cross-border payments market grows, more institutions like Chipper Cash are tapping into the transformative power of blockchain technology to drive efficiency and innovation.”
Founded in 2018, Chipper Cash has raised millions in funding to support its mission of frictionless money transfers across Africa.
According to World Bank data, Africa’s remittance inflows are projected to surpass $100 billion in 2025. Countries like Nigeria, Ghana, and Kenya are heavily reliant on these transactions, which often outpace foreign direct investment.
XRP’s Growing Presence in Africa
Ripple’s latest partnership reinforces its strategy of expanding blockchain-powered payments across Africa.
Chipper Cash co-founder and CEO Ham Serunjogi emphasized the potential impact of crypto-enabled payments:
“Crypto-enabled payments have the potential to enable greater financial inclusion, accelerate access to global markets, and empower businesses and individuals across Africa.”
This isn’t Ripple’s first foray into Africa. In 2023, Onafriq, another leading African FinTech, partnered with Ripple to enhance its cross-border payment services.
Onafriq operates in over 30 countries, connecting more than 500 million mobile wallets and 200 million bank accounts.
By leveraging the XRP Ledger, the firm launched three new payment corridors, linking 27 African nations with the U.K., Australia, and the Gulf Cooperation Council (GCC).
As Africa’s financial services industry expands, Ripple’s partnerships signal growing institutional adoption of blockchain-based payments in the region.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
