Ripple Partners with MFS Africa

Ripple, a leader in enterprise blockchain and crypto solutions, announced its entry into Africa in partnership with MFS Africa, a leading digital payments gateway

By Staff

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Ripple, a software company located in the United States, has announced that their crypto solution known as “on-demand liquidity” would assist MFS Africa in “streamlining real-time mobile payments for consumers in 35 countries.” The expansion of Ripple’s cooperation with MFS Africa, which has 800 payment lanes throughout the continent, would purportedly see the entire area realize what Ripple has termed as “financially inclusive advantages.”

On November 14, the American technology startup Ripple announced that it has partnered with MFS Africa. According to Ripple, this agreement is meant to “streamline [MFS Africa’s] real-time mobile payments for its consumers across 35 nations.” In accordance with the agreement, MFS Africa, a prominent fintech company on the continent, would utilize the on-demand liquidity cryptocurrency service from Ripple (ODL).

MFS Africa’s CEO, Dare Okoudjou, commented on the company’s choice to collaborate with Ripple in the following manner; “MFS Africa’s aim is to make borders matter less when it comes to payment within, to, and from Africa.” He further added that they were excited to further this aim through their collaboration with Ripple to make mass-scale, quick, secure, and affordable remittances possible.

According to the MFS CEO, cooperation with Ripple is the company’s first attempt to use blockchain technology to “amplify our [MFS Africa’s] influence on consumers and enterprises on the continent growth in a new economy.”

The Ripple team claimed in a blog post dated November 14 that ODL is “beneficial to markets that traditionally struggle with liquidity sourcing,” describing the partnership as a “victory for financial inclusion in Africa.”

According to the team, the “entire area stands to profit from financial inclusion,” due to the increasing collaboration between Ripple and MSF Africa, which has 800 payment corridors across the continent.

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