Ripple partners with Onafriq to expand remittance services between Africa, Gulf countries, the UK, and Australia

ChainCatcher news, according to CoinDesk, the cryptocurrency-based remittance and payment network Ripple is collaborating with payment fintech Onafriq to expand remittance capabilities in Africa and its borders with Gulf countries, the UK, and Australia.

Ripple announced on Wednesday at its annual conference Swell in Dubai that three new blockchain-based payment channels will be opened between Onafriq users in Africa and customers of PayAngel in the UK, Pyypl in the Gulf Cooperation Council, and Zazi Transfer in Australia.

Ripple President Monica Long stated, "Onafriq is a major payment company in Africa, serving 400 million mobile wallets. This will enable Ripple payments to cover 90% of Africa's foreign exchange market."

Additionally, Ripple announced various product upgrades and license updates, including a focus on payments between enterprises and smaller businesses. Ripple has been increasing its license applications, including money transmission licenses in the US and institutional payment licenses in Singapore, and has recently submitted applications in the UK and EU.