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.”
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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
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