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By Chinenye Anuforo
TBD, a subsidiary of Block focused on open and decentralized financial technologies, has announced a strategic partnership with Chipper Cash, a leading African fintech company. This integration aims to unlock liquidity for cross-border payments and explore innovative use cases for decentralized identity across the African continent.
“Africa faces significant challenges in currency liquidity and access to global financial systems,” said Mike Brock, CEO of TBD. “We are prioritizing the expansion of the tbDEX ecosystem in Africa, which already includes Yellowcard, the continent’s leading licensed stablecoin on/off ramp provider. With the recent launch of the tbDEX SDK 1.0, Chipper Cash’s addition significantly strengthens our efforts in facilitating global cross-border payments and decentralized identity solutions.”
Chipper Cash, one of Africa’s largest fintech companies, empowers over 5 million users to transfer money efficiently across 21 African countries. With over 1.2 million cards issued, Chipper Cash’s integration represents the onboarding of one of the largest virtual card issuers in Africa.
“At Chipper Cash, we’re excited about the potential of tbDEX to revolutionize remittance flows into Africa,” said Maijid Moujaled, President and Co-Founder of Chipper Cash. “Remittances are crucial for many African families, yet sending money to the continent remains extraordinarily expensive. By integrating with an open protocol like tbDEX, which boasts numerous network participants, we believe we can collectively drive down these costs and make remittances more efficient, transparent, and compliant.”
While the initial focus will be on enabling faster and cheaper consumer remittances, TBD and Chipper Cash plan to explore further empowering small businesses. Chipper Cash’s existing offerings enable local and cross-border digital payments for underbanked SMEs across 40 African countries, facilitating disbursements and collections from bank accounts, mobile money wallets, and Chipper wallets.
Chipper Cash will also leverage tbDEX to unlock trusted and compliant transactions by utilizing verifiable credentials (VCs) and decentralized identifiers (DIDs). This integration aims to streamline the onboarding and identity verification process for both consumers and small businesses.
“Chipper Cash is excited to collaborate with TBD on the trust frameworks and innovative credential designs that underpin every financial transaction on tbDEX,” said Moujaled. “The possibility of establishing a standardized and streamlined method for online identity verification has the potential to make the global financial landscape more inclusive.”
