Mobile money company MFS Africa has partnered with crypto solutions provider Ripple to streamline real-time mobile payments for its customers across 35 countries.
The partnership will see MFS Africa utilising Ripple’s On-Demand Liquidity (ODL) solution to reduce bottlenecks associated with sending money across borders via legacy payment rails.
Ripple does this by allowing companies to perform transactions without the need for correspondent banking relationships or the pre-funding of accounts abroad.
Founded in 2009, MFS Africa is one of the most well-funded fintech companies in the region. The company was also one of five African companies which made CB Insights’ Fintech 250 in 2022.
“The Ripple MFS Africa partnership represents a confident, important and bold first step for our crypto strategy to leverage blockchain technologies to amplify our impact on consumers and businesses,”
said Dare Okoudjou, CEO at MFS Africa.
