Ripple has announced a new partnership with African payment app Chipper Cash. The partnership aims to implement cross-border payments based on blockchain technology, which are supposed to be faster, cheaper and more efficient than traditional solutions. Thanks to this alliance, Ripple services will become available to over five million Chipper Cash users in nine African countries. The company wants to strengthen its position in a dynamically developing market, which is increasingly reaching for digital technologies.
🔽🔽🔽
Blockchain enters the Dark Continent
Reece Merrick, Managing Director of Ripple in the Middle East and Africa, emphasized that the African continent is starting to see the real value of using blockchain.
🔽🔽🔽
The partnership also has a symbolic dimension – it shows that Ripple has no intention of slowing down its global expansion after the regulatory turmoil in the US.
🔽🔽🔽
XRP falls despite good news
Despite the positive news, Ripple’s cryptocurrency, XRP, fell 4.15% and is currently trading at around $2.36.
🔽🔽🔽
The project’s market capitalization remains high, however, at around $137.5 billion. Ripple adoption growth doesn’t always translate into immediate price action, especially in the face of regulatory uncertainty and market tensions.
Ripple Ends SEC Battle
The announcement of the Chipper Cash partnership coincides with another breakthrough in Ripple’s long-running dispute with the U.S. Securities and Exchange Commission (SEC). Both sides have agreed to drop appeals and reached a settlement that reduces the original penalty from $125 million to $50 million. Final closure of the case still requires approval from the SEC and completion of formal court proceedings. This is the result of Trump’s new policy, which is unusually open to our industry (unlike Gensler’s crusades), and the project clearly shows that he is not looking back – instead, he is focusing on global markets that not only need breakthrough payment solutions, but are ready for them here and now.
