Crypto firm Ripple has secured another major partnership in a bid to expand its payment service. Fintech company RedotPay has integrated the crypto firm’s payment service to launch its “Send Crypto, Receive NGN” feature, which will support several crypto assets, including XRP.
Ripple Partners With RedotPay, Expanding Payment Service In Africa
In a press release, the crypto firm announced its partnership with RedotPay, with the latter launching its “Send Crypto, Receive NGN” feature and expanding multi-market payouts through its integration of Ripple’s cross-border payment solution. This new feature will enable easier conversion from crypto to NGN for verified users with local bank accounts.
Michael Gao, CEO and Co‑Founder of RedotPay, stated that this stablecoin-powered payment system will make crypto assets as easy to use as local currencies, allowing users to send XRP or stablecoins securely and receive NGN within minutes. “The integration of Ripple Payments will expand RedotPay’s global reach and better serve the evolving needs of our users – we will remain focused on making digital finance accessible, secure, and efficient for everyone,” he added.
Notably, this partnership comes just days after Ripple broadened its payment offerings in Singapore with an expanded MPI License. Commenting on this latest partnership, the crypto firm stated that RedotPay is capitalizing on the shift to digital alternatives for global remittances.
Furthermore, the crypto firm stated that by integrating its payment service, RedotPay’s “Send Crypto, Receive NGN” feature tackles the pain points of global remittances head-on.
What Crypto Firms Does The Partnership Support?
Ripple revealed that RedotPay’s latest feature currently supports several crypto assets, including XRP, USDC, USDT, BTC, ETH, SOL, TON, TRX, and BNB. There are plans to support RLUSD in the future.
Users can send XRP or any of the supported assets on RedotPay and receive NGN in their designated local bank accounts. It is worth mentioning that this partnership builds on Ripple’s earlier partnerships this year, which focused on cross-border payments in Africa.
As CoinGape reported, the crypto firm partnered with African fintech firms Chipper Cash, VALR, and Yellow Card, integrating its RLUSD stablecoin on these platforms. Meanwhile, commenting on this latest partnership, Ripple executive Reece Merrick said it is a “massive” step toward faster, more affordable cross-border payments in Africa.
Source: https://coingape.com/xrp-news-ripple-expands-payments-service-with-redotpay-integration/
