Ripple is set to establish new payment channels connecting 27 African nations with Australia, the UK, and the Gulf Cooperation Council, thanks to a partnership with the African mobile payment company Onafriq.
Leveraging Ripple’s blockchain technology, Onafriq will collaborate with three companies to facilitate these services. Zazi Transfer will handle transactions to Australia, PayAngel will cater to the UK market, and Pyypl will be responsible for the GCC countries, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.
Pyypl is already utilizing Ripple’s On-Demand Liquidity (ODL) solution, and it’s been reported that Onafriq has also incorporated ODL into its system.
Formerly known as MFS Africa, Onafriq adopted its new name after acquiring the US mobile payment software company Global Technology Partners in June 2022. The rebranding was necessary as ‘MFS’ is already trademarked in the US. Earlier this year, Onafriq also entered into a collaboration with Western Union for cross-border transactions.
Previously recognized as RippleNet, Ripple Payments introduced its latest enhancements at Ripple’s Swell customer event in Dubai on November 8, coinciding with the announcement of this significant upgrade.