Ripple, the cryptocurrency-based money transfer and payments network launched in 2012, is working with payments fintech Onafriq to expand remittance capabilities in Africa and across its borders with various Gulf nations, the U.K. and Australia.
“Our set of licenses means we can serve a bigger market,” Long said. “Previously, we only served licensed financial institutions and now we're able to serve enterprises and SMEs. So for example, importer/exporters and paying suppliers overseas, or paying employees in a company that has freelance developers in different parts of the world.”
Ripple has become a mascot of resistance within the crypto industry for standing up to, and partially prevailing against, what is largely regarded as a heavy-handed and reactionary U.S. Securities and Exchange Commission (SEC).
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