In order to increase its remittance capabilities and serve consumers in Africa and numerous Gulf countries, the UK, and Australia, Ripple [XRP] has teamed with payments startup Onafriq.
Three payment channels based on blockchain are to be established through this agreement.
The goal is to make it easier for consumers of PayAngel in the UK, Pyypl in the Gulf Cooperation Council (GCC), and Zazi Transfer in Australia to trade with Onafriq users in Africa.
This discovery was revealed by Ripple during its yearly conference in Dubai.
Ripple Establishes Payment Corridors Linking Africa to Global Markets,Ripple Establishes Payment Corridors Linking Africa to Global Markets
President of Ripple Monica Long referred to Onafriq as a significant participant in the African payment market.
Onafriq claims to have 400 million mobile wallets under its belt. For Ripple, the cooperation represented a critical turning point. It makes it possible for its payment services to handle an astounding 90% of the foreign currency markets.
The optimism surrounding XRP continues to rise. This news is related to Ripple’s ongoing legal dispute with the Securities and Exchange Commission (SEC). Additionally, the business was able to win some ground against the regulatory agency’s activities.
For the crypto community, this was a historic decision. The XRP token was relisted on many exchanges, including Kraken, Bitstamp, and Coinbase (NASDAQ:token). Judge Analisa Torres has given the parties until November 9th to submit their joint briefing schedule proposals.
Meanwhile, during the past ten days, the price of XRP has increased by almost 20%. Data from Tradingview showed that it was tarding at $0.67 at the time of publishing.
The approval of the token by the Dubai Financial Services Authority and Ripple’s participation in a central bank digital currency (CBDC) initiative with the National Bank of Georgia (NBG) were the main drivers of this surge.
Ripple Establishes Payment Corridors Linking Africa to Global Markets,Ripple Establishes Payment Corridors Linking Africa to Global Markets,Ripple Establishes Payment Corridors Linking Africa to Global Markets , Ripple coin Crypto news, Ripple coin News