Enabling customers in 200 countries to receive money via MFS Africa is the goal of this newly established partnership with Western Union. Admittedly, Ripple does not occupy the forefront in this partnership, but we know that MFS Africa largely benefits from its unwavering support.
Madagascar, the first beneficiary of this Western Union convenience
Madagascar is one of the countries invited by Nayib Bukele to the Bretton Woods of bitcoin in May 2022. But so far, no regulatory or legalization project for cryptocurrencies is underway. Except for a story warning against these assets published a long time ago. The great revolution hatched by the BCM is called thee-ariarythe local variant of the CBDC.
According to the Nigerian website Benjamin Dada, Malagasy people will be the first to benefit from this partnership between Western Union and MFS Africa, which will allow money to be sent to mobile wallets in Africa. This convenience will gradually become available to 53 other African countries, and to more than 200 countries worldwide.
” At MFS Africa, we’ve always believed in making payments as easy as possible. Payments infrastructures around the world have traditionally remained fragmented and local in nature. The 54 countries of Africa are different, not only in terms of population, levels of development, growth rates and stability, but also in terms of payment and regulatory infrastructures. »
Official information does not mention the democratization of cryptocurrencies. We will, however, agree to mention that last October, Western Union filed three trademarks covering cryptographic services with the United States Patent and Trademark Office (USPTO).
Ripple and MFS Africa to conquer Africa
In mid-November 2022, we got wind of a partnership established between Ripple and MFS Africa. This alliance aims in particular to promote cryptocurrency payments throughout the African continent.
MFS Africa, which presents itself as the largest mobile payment center, did not hesitate to use Ripple’s on-demand liquidity (ODL) solution to achieve this.
To say that at that time, Ripple had welcomed in its report the rise in popularity of its ODL platform. 90% market share acquired in the world of foreign exchange, this created wind in the wings of Brad Garlinghouse and his entire team.
The agreement between Western Union and MFS Africa, the protege of Ripple, will certainly help Africans to better understand decentralization. But not yet the virtue of cryptocurrencies.
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