Ripple Payments expands to 70 markets


Blockchain company Ripple has expanded the coverage of its Ripple Payments payment network to 70 markets.

according to blogWith the expansion, Ripple will further optimize the efficiency of cross-border payments using blockchain. Additionally, the service will facilitate the transition to digital assets by using blockchain to optimize cross-border payments.

Ripple has partnered with fintech company Onafriq to open new remittance corridors between Africa and the GCC, the UK and Australia. The partnership is expected to improve the remittance process in Africa by using Ripple Payments technology to solve common cross-border payment issues such as transfer delays and high costs.

Onafriq plans to use Ripple’s technology to connect its vast mobile money network, which includes more than 500 million mobile wallets across Africa. The partnership will also help improve payment efficiency and costs across the 27 countries on the Onafriq network.

Ripple (XRP) has seen gains over the past week, rising nearly 10% overall. The coin’s value has been hovering between $0.46 and $0.55 since August.

Ripple Payments expands operations to 70 markets - 1
XRP price in October and November | Source: CoinMarketCap

XRP broke above the barrier after finding support at the 200-day moving average.

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