Ripple partners with Africa-focused remittance and payments firm MSF Africa – Fintech Bitcoin News
Ripple, the US-based technology company, has said that 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 development of Ripple’s partnership with MSF Africa, which has 800 payment corridors across the continent, will apparently see the entire region get a chance to reap “the financial inclusion benefits”.
Enable faster, affordable transfers
US-based technology company Ripple announced on November 14 that it had formed a partnership with Doctors Without Borders Africa that is expected to help “streamline” [MSF Africa’s] real-time mobile payments for their customers in 35 countries.” As part of the deal, 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, CEO of the mobile financial solutions company, Dare Okoudjou, said:
MFS Africa’s mission is to make borders matter less when it comes to payments within, to and from Africa. We are excited to advance this mission through our partnership with Ripple to enable fast, secure and affordable transfers at scale.
The CEO added that the firm’s partnership with Ripple represents its first attempt to use blockchain technologies “to augment our [MSF Africa’s] impact on consumers and businesses on the continent’s growth in a new economy.”
Meanwhile, in its November 14 blog post, which described the partnership as a “win for financial inclusion in Africa,” the Ripple team insisted that ODL is useful for “markets that often struggle to raise liquidity.”
The team added that the development 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 financial inclusion benefits.”
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