Ripple expands further in Latin America and Africa as it partners with a remittance service provider, to make cross border transactions cheaper, faster and much more secure.
Ripple Partners with Paydek
In a recent tweet by the firm’s head for RippleNet’s development in Europe, Sendi Young stated that through the assistance of RippleNet, UK-based remittance service provider Paydek will now be enabled to make real-time payments to on-demand freelancers residing in Latin America and Africa.
— Sendi Young (@sendiyoung) September 16, 2021
Sharing the announcement she tweeted
Excited to continue @Ripple’s momentum in EMEA with new customers and connections, as Paydek brings real-time payments to freelance and on-demand workers in LATAM and Africa.
In a blog post, on its website, Ripple stated that through RippleNet’s on-demand liquidity, the freelance workers in Africa and Latin America, will now be able to make real time transactions using Paydek.
It is to me noted that Ripple’s RippleNet, based on on-demand liquidity concept, is one the most efficiently designed ecosystems for real-time cross-border payments. It makes the transactions faster, cheaper, much securer and friction-less. Terry Hopkins, the managing director at Paydek, noted that to provide aforementioned services to regional masses, through RippleNet’s ecosystem, the company is developing its infrastructure across Africa and Latin America.
Ripple Expands Further
Initially Paydek had partnered with Ripple in Africa solely, but to expand its business in America, the company has now partnered with Ripple in Latam too.
Sendi Young further asserted that the partnership will lead to expansion in Ripple’s footprint in Africa and Latin America, as the company will continue to provide innovative solutions implemented in digital remittances across regions.
ARS, CLP, MXN, UYU,and ARS are the fiat currencies, Paydek will support in Latin America and in Africa it would be supporting 9 currencies including, SLL GHS, ZAR and XOF.