Ripple Collaborates with MSF Africa, An Africa-Focused Payments Company

The expansion of Ripple’s partnership with MSF Africa is intended to provide “financially inclusive benefits” to the whole region. Notably, MSF Africa boasts 800 payment channels spread across the continent.

Making Remittances Easier, Quicker, And More Affordable

On November 14, Ripple announced that it had joined MSF Africa. The collaboration is expected for customers in 35 countries to make real-time mobile payments from [MSF Africa] simpler.

MSF Africa would use the on-demand liquidity (ODL) cryptocurrency technology from Ripple as part of the cooperation. A well-known fintech company in the region is MSF Africa.

The mobile banking solution’s CEO is Dare Okoudjou. The following comment was issued by Okoudjou in reaction to MSF Africa’s choice to collaborate with Ripple.

He said that MFS Africa’s objective is to lessen the relevance of geographic boundaries when sending and receiving money within, to, and from Africa.

He continued by saying they are pleased to be working with Ripple to further this goal. Okoudjou claims that this will make it possible to send large amounts of money quickly, securely, and affordably.

The company’s CEO claimed the partnership with Ripple is its first usage of blockchain technology. He said MSF Africa must establish a new economy to increase its impact on consumers and corporations.

Meanwhile, the Ripple team claimed that ODL helps markets with liquidity sources. This was made public in a blog post they published on November 14. They referred to the partnership as a “win for financial inclusion in Africa.

The team stated that the relationship between Ripple and MSF Africa, which has 800 payment lanes, will benefit the region.

About Ripple and MSF Africa

Based on distributed ledger technology, Ripple is a decentralized network and protocol for transferring digital funds. Additionally, it has a cryptocurrency of its own called XRP.

A payment settlement, asset exchange, and remittance system are the primary function of Ripple, which was founded in 2012. It is possible to compare this process to the SWIFT system. In addition, banks and financial intermediaries utilize it to transfer securities and money internationally.

Mobile money consumers and service providers are connected via MFS Africa. It offers convenient, legal, cost-effective, and safe mobile financing options.

The company was founded in 2010, and its founders support universal access. By establishing connections between Africans and SMMEs, they want to lessen the significance of boundaries.

MFS Africa’s offices include Accra, Ghana; London, United Kingdom; Douala, Cameroon; Johannesburg, South Africa; Nairobi, Kenya; Kampala, Uganda; and Port-Louis, Mauritius.