Chipper Cash Partners with Jack Dorsey’s Payment System to Expand Financial Access Across Africa

In a groundbreaking move set to transform cross-border payments in Africa, TBD, a subsidiary of Block Inc., has forged a strategic partnership with Chipper Cash, one of the continent’s leading financial technology firms. This collaboration aims to accelerate the adoption of open and decentralized technologies, paving the way for seamless financial transactions across borders.

Announced on Tuesday, the partnership signifies a significant step towards expanding financial access and inclusion in Africa. Mike Brock, CEO of TBD, highlighted the potential impact of the collaboration, emphasizing the goal to extend the reach of innovative financial solutions to 40 countries across the continent.

TBD, established over two years ago by Block Inc., aims to bridge the gap in financial access for individuals, businesses, and payment platforms. Leveraging the expertise of its parent company, founded by Twitter’s Jack Dorsey, TBD is dedicated to driving financial empowerment through cutting-edge technologies.

Chipper Cash, already serving 5 million customers across 21 African countries, has been at the forefront of revolutionizing digital payments on the continent. By integrating with TBD’s tbDEX protocol, Chipper Cash aims to enhance its cross-border payment capabilities, offering faster and more cost-effective transactions to its users.

Traditional money transfer channels in Africa often face challenges such as slow processing times and high transaction costs. However, with tbDEX’s open messaging protocol, liquidity providers and seekers can seamlessly connect, facilitating swift and affordable transactions. Customers can transfer digital assets, which can be received in local currency directly into bank accounts or mobile wallets, providing greater flexibility and convenience.

Maijid Moujaled, President and Co-founder of Chipper Cash, emphasized the importance of reducing the high costs associated with remittances in Africa. Through the partnership with TBD, Chipper Cash aims to drive down these costs collectively and enhance financial inclusion across the continent.

TBD’s innovative technologies serve as a bridge between traditional financial systems and the digital asset space. With a focus on fostering ecosystem engagement, TBD aims to empower developers, fintechs, startups, banks, and institutions to leverage these technologies for driving financial innovation in Africa and beyond.