TechFlow information: Under its partnership agreement with African mobile payment provider Onafriq, Ripple will support a new payment corridor covering 27 African countries as well as Australia, the United Kingdom, and the Gulf Cooperation Council (GCC).
Onafriq will utilize Ripple Payments' blockchain technology alongside three partner companies. Zazi Transfer will provide remittance services to Australia, PayAngel will handle transfers to the UK, and Pyypl will facilitate payments to GCC member states—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
Notably, Pyypl is already a partner of Ripple's On-Demand Liquidity (ODL) solution, and Onafriq has also reportedly integrated ODL. Previously known as MFS Africa, Onafriq rebranded in June 2022 following its acquisition of U.S.-based mobile payment software developer Global Technology Partners. Prior to that, MFS was the trademarked company name in the U.S. Onafriq also collaborates with Western Union to advance cross-border transactions.
It should be noted that Ripple Payments was formerly known as RippleNet, with the upgrade announced during the Ripple Swell customer event on November 8.
