MFS Africa—a leading fintech with the largest mobile money footprint in Africa—has partnered with Ripple to streamline real-time mobile payments for customers across 35 countries.
MFS Africa connects over 400 million mobile wallets across 35 African countries while operating upwards of 800 payment corridors across the continent. The entire region will reap the financially inclusive benefits as the partnership between MFS Africa and Ripple evolves.
Ripple’s On-Demand Liquidity (ODL) solution reduces the frictions and bottlenecks associated with sending money across borders via legacy payment rails, like expensive fees, slow payment settlement times, and even access to a physical bank branch.
According to the UN, Africa boasts a $2.7 trillion market opportunity—the most significant driver of business growth worldwide—and innovative digital payment rails can make this a reality. This implies a huge opportunity for Ripple.
While mobile money users in Africa have grown exponentially in recent years, the number of users worldwide is expected to reach 70% of the global population.
14 Amicus Briefs and Counting in Ripple Support in Case
According to ripple General counsel, Stuart Alderoty, the number of Amicus briefs in the support of Ripple in the SEC case has risen to 14 while that of SEC was 2.
He wrote: ‘’Amici briefs provide independent and unique perspectives, and explain practical and policy considerations that courts may want to consider when deciding a case. For those keeping scores, the final amici tally: supporting Ripple (14) v. SEC (2). Extraordinary’’
In recent updates by James K.Filan in the ongoing lawsuit: ‘’Judge Torres has granted motions to file Amici Briefs. By November 18, 2022, the blockchain Association, six XRP holders, Coinbase, the CCI, Valhil, Cryptillian, Veri DAO, Reaper Financial, InvestReady, NSEI, and Paradigm are expected to file their formal briefs.
Ripple CEO, Brad Garlinghouse commends the support offered by these market players, saying it was unprecedented. ‘’For those of you keeping count, 12 (!) amici briefs submitted. It’s unprecedented (I’m told) to have this happen at this stage. They each explain – in their unique way – the irreparable harm the SEC will do to every facet of the US crypto economy if it gets its way’’.
Stuart Alderoty comes to a conclusion on the inflows of the Amicus briefs in ripple support- the SEC must be dangerously wrong. ‘’A dozen independent voices – companies, developers, exchanges, public interest and trade associations, retail holders – all filing in SEC v Ripple to explain how dangerously wrong the SEC is. The SEC’s response? We need more time, not to listen or engage, but to blindly bulldoze on’’
