TBDPart of the blockwhich focuses on creating open and decentralized technologies to connect the financial world, has announced that the African financial Chipper Cash has integrated with the tbDEX protocol to enhance cross-border payments and decentralized identity use cases for individuals and businesses on the African continent.
Details
Chipper Cash will also leverage tbDEX to unlock trusted, compliant transactions with Verifiable Credentials (VCs) and Decentralized Identifiers (DIDs) to accelerate consumer and small business onboarding and authentication.
While the initial partnership will focus on facilitating faster and cheaper remittances from consumers, the two companies will also explore ways to empower small businesses.
Because this matters
As one of the largest fintechs in Africa, Chipper Cash already enables 5 million consumers to transfer money efficiently in more than 21 African countries. With more than 1.2 million cards issued, the integration of Chipper represents the integration of one of the largest issuers of virtual cards in Africa.
What they say
“Across Africa, the challenges of monetary liquidity and access to global financial systems are palpable,” he said Mike BrockTBD CEO.
“For these reasons, we are laser-focused on building the tbDEX ecosystem in Africa, which already includes Yellowcard, the largest and only licensed stablecoin on/off ramp on the African continent. Quickly continue the release of tbDEX SDK 1.0, adding Chipper Cash to our growing network will help accelerate our work on global cross-border payments and decentralized identity.”
“At Chipper Cash, we are excited about tbDEX’s potential to revolutionize remittance flows in Africa,” he said Maijid MoujaledPresident and Co-Founder of Chipper Cash.
“Remittances are a lifeline for many African families, but the cost of sending money to the continent remains among the highest in the world. By connecting to an open protocol like tbDEX with multiple network participants, we believe we can, collectively as an industry, reduce these high costs and facilitate remittances in a more efficient, transparent and compliant manner.”
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