Ripple has partnered with fintech firm Onafriq to facilitate digital asset-enabled cross-border payments connecting Africa to new markets, including the Gulf Cooperation Council, the UK, and Australia. The collaboration aims to introduce quicker, more effective, and economical global money transfers to Africa, potentially expediting financial inclusion across the continent.

Onafriq will leverage Ripple Payments to establish three new payment corridors between Africa and the rest of the world. Customers of PayAngel in the UK, Pyypl in the GCC, and Zazi Transfer in Australia can now conduct speedy and cost-effective remittance and business payments to recipients in 27 countries across Onafriq’s pan-African network.

Ripple's recent partnerships, such as with Kuwait Finance House and the National Bank of Georgia, have generated optimism in the market. However, the possibility of an IPO remains uncertain due to the ongoing legal dispute with the SEC.