Jack Dorsey’s Payment Platform Takes a Look at African Markets with Chipper Cash
Jack Dorsey-backed digital payments company TBD has announced a partnership with Chipper Cash to increase cross-border trade in Africa. In a recent announcement, the company aimed to expand its presence on the continent to 40 countries.
TBD is a subsidiary of Block, a company co-founded by former Twitter CEO Jack Dorsey. The company’s new partnership with Chipper Cash, one of Africa’s leading payments companies, will help open new markets for the company amid competition.
A Move Towards Digital Assets with TBD
In a recent interview in Ghana, Mike BrockAccording to Bloomberg, TBD CEO emphasized the need to expand its country network. A notable feature that makes TBD stand out from its competitors is its access to digital assets. Customers can leverage the platform to transfer cryptocurrencies directly to the recipient’s wallet or convert them into local currency.
Alternatively, buyers can hold the value directly in Bitcoin (BTC), stablecoin or dollar. According to Brock, the template bridges the gap between traditional and new payment methods.
“One of our main goals on the continent is to encourage participation in this ecosystem; Developers, fintechs, startups, banks and institutions can use these technologies today.”
Transition to Digital Assets
adoption blockchain technology In many markets, it has led users to increase their crypto asset volumes by unlocking faster cross-border payments. African markets have seen an influx of crypto and digital payments companies over the past two years, with companies seeking to grow their market share among young investors.
Headquartered in San Francisco, Chipper Cash has onboarded more than 5 million customers to move funds across 21 African countries. While inflation is rising in some countries, TBD, which allows payments with digital assets, is attracting the attention of young people on the continent.
Bitcoin Recently, an increasing number of people are turning to this asset, which stands out as a means of protecting against inflation and storing value, in exchange for local price.
So read: Standard Chartered and Mastercard Complete First Tokenized Deposit Test
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David is a financial news writer with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has a talent for keeping up with breaking news. Staying on top of trends, David is knowledgeable about regulations, partnerships, crypto assets, stocks, NFTs, etc. He reported in various fields such as. Away from the financial markets, David cycles and rides horses.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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