Ripple, known for the XRP coin, is coming out with exciting news. FinTech company unveils two new initiatives to serve US and African crypto markets
A new venture from Ripple is Ripple Payments, a payment platform called RippleNet. By introducing this platform, the company aims to attract business customers for cross-border payments that are not authorized to do so.
Introducing Ripple Payments—the next evolution of Ripple’s payments product, offering FIs and SMEs a licensed end-to-end solution for 70+ payout markets, expanded crypto liquidity options, integration with XRP Ledger DEX and more.https://t.co/khOxtCnXin
— Ripple (@Ripple) November 8, 2023
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Ripple payments for business customers
The purpose of the updated payment platform is to attract new customers and entrepreneurs who do not have a money transfer license. Ripple wants to make the platform accessible to companies without in-depth knowledge of blockchain and crypto technology.
Brendan Perry, head of payment solutions at Ripple, is excited about the new capabilities and emphasizes that the platform is all about simplicity. He mentions:
“We abstract away all the complexities of interacting with digital assets and any knowledge or understanding associated with blockchain, and provide customers with an elegant solution so they can start sending money immediately.”
Ripple previously focused primarily on serving licensed financial institutions. with the new Ripple payments The platform allows business customers to conduct their transactions through Ripple’s network.
To access the Ripple network, target customers must first complete the required process. Ripple payments Generated after obtaining the required 30 transfer licenses.
Cooperation Ripple and African FinTech
Ripple also announces its partnership with Onafric, an African fintech company, along with the launch of a revamped payment platform. This strategic move aims to facilitate cross-border payments between Africa and other continents.
The partnership allows customers from the United Kingdom, Australia and GCC countries in the Middle East to seamlessly send money to Africa. These transactions can be sent to 27 countries in Onafriq’s African network.
We are proud to announce that our partner @Onafriq We will use our crypto-enabled payment technology, Ripple Payments, to open three new payment channels between Africa and the rest of the world. 🌍
Learn more: https://t.co/FU0pjHuqIA
— Ripple (@Ripple) November 8, 2023
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Important day for Ripple
These announcements come from SWELL, Ripple’s event in Dubai. A number of big announcements were made on the first day, and more announcements are likely to follow today.
Earlier today, Metaco, which was acquired by Ripple this year, announced a partnership with British banking giant HSBC.
