Ripple expanding into Africa and Latin America
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Ripple expanding into Africa and Latin America

Daniela Kirova
Daniela Kirova
31st Jan 2023

Sendi Young, head of European development of RippleNet and former Mastercard top executive, wrote that Ripple was helping U.K.-based company Paydek make payments to freelancers and on-demand workers in Africa and Latin America in real time. She tweeted:

“Excited to continue @Ripple’s momentum in EMEA with new customers and connections, as Paydek brings real-time payments to freelance and on-demand workers in LATAM and Africa!”

Recently, Ripple wrote in a blog post that freelance and on-demand workers in African and Latin American countries could now get and send real-time payments via Paydek. The UK-based company helps improve and manage payments for both individuals and businesses. After joining RippleNet, they are using the opportunities provided to them to solve issues freelance customers face in the on-demand market, predicted to reach $455 billion by 2023.

Additional payment rails  

At first, Paydek was in partnership with Ripple in Africa. It has now expanded to Latin America after partnering with Localpayment through RippleNet. According to Paydek’s managing director Terry Hopkinson, the company plans to create additional payment rails in these regions, as well as new infrastructure for fast, cheap and secure payments.

Strengthening Ripple’s presence across the globe

Sendi Young stated that the partnership would help the court-battling crypto company expand its presence in Latin America and Africa as well as making it possible to implement innovative solutions in digital remittances. Paydek will support a number of African local currencies, including GHS, ZAR, XOF, and SLL. It will support MXN, UYU, ARS and CLP in Latin America.

Potentially constructive pattern

On Twitter, expert commodity trader Peter L. Brandt congratulated early stage altcoin investors, who have amassed fortunes, admitting he is “a dinosaur in a new game.” To justify his statement, he shared a screenshot of a Ripple chart, showing a “potentially constructive” pattern for the XRP token. The chart shows that the sixth-largest cryptocurrency is forming an Inverse Head and Shoulders pattern. Potentially, an inverse or regular Head and Shoulders precedes an asset reverse when it starts moving in the opposite direction.

Author Bio
Daniela Kirova
Daniela Kirova
Daniela is a writer at Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. She has over 15 years of experience as a writer, having ghostwritten for several online publications in the financial sector.