Ripple said its cryptographic solution known as “liquidity on demand” is ready to help MSF Africa to “Streamline real-time mobile payments for customers in 35 countries.“The evolution of Ripple’s partnership with MSF Africa, which has 800 payment corridors across the continent, will ostensibly see the entire region get a chance to reap”financially inclusive benefits.“
Enabling faster, lower cost money transfers
U.S. technology company Ripple announced on Nov. 14 that it has formed a partnership with MSF Africa that should help “streamline” remittances. [MSF Africa’s] real-time mobile payments for their customers in 35 countries.” As part of the agreement, MSF Africa, a leading fintech group on the continent, will use Ripple’s cryptographic solution known as on-demand liquidity (ODL).
Commenting on MSF Africa’s decision to partner with Ripple, the mobile financial solutions company’s CEO, Dare Okoudjou, said:
MSF Africa’s mission is to make borders irrelevant 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 low-cost money transfers at scale.
The CEO added that his company’s partnership with Ripple represents its first attempt to use blockchain technologies.”to amplify our money transfer business. MSF Africa is impacting consumers and businesses on the continent’s growth in a new economy. “
Meanwhile, in their November 14 blog post the Ripple team, who described the partnership as a “victory for financial inclusion in Africa“He emphasized that ODL is useful to “Markets that often struggle to find liquidity“.
The team added that the evolution of the agreement between Ripple and MSF Africa, which has 800 payment corridors across the continent, will see “the entire region reap the benefits of financial inclusion“.