Jack Dorsey-financed TBD, a subsidiary of Block has partnered with Chipper Cash to enhance international trade in Africa.
Jack Dorsey-financed digital payment company TBD has partnered with Chipper Cash to boost international trade in Africa. The corporation recently released a statement stating its intention to expand its footprint on the continent to forty different countries.
Jack Dorsey Platform Patners Chipper Cash
Jack Dorsey co-founded Block, a company where he previously served as Twitter’s CEO. TBD is a subsidiary of Block. In the face of intense competition, the launch of the company’s new relationship with Chipper Cash, a prominent payment company in Africa will assist in opening up new markets for the company.
According to a report by Bloomberg, Mike Brock, the CEO of TBD recently gave an interview in Ghana in which he emphasized the need to expand the company’s network of countries.
The fact that Jack Dorsey’s TBD has access to digital assets is a particular advantage that sets it apart from other companies in the industry. Customers can use the platform to convert their cryptocurrency holdings into the recipient’s native currency or transfer them directly to the recipient’s wallet.
Additionally, recipients have the option of holding the direct value in either Bitcoin (BTC), a stablecoin or traditional currency. As far as Brock is concerned, the template serves to bridge the gap between more conventional and more contemporary means of payment.
“One of our primary objectives on the continent is to encourage engagement in that ecosystem. Developers, fintech companies, startups, banks and institutions are all able to use these technologies right now.”
The widespread implementation of blockchain technology in numerous areas has resulted in an increase in the volume of crypto assets held by users, which has enabled speedier international payments.
Over the course of the past two years, African markets have witnessed an influx of crypto and digital payment enterprises, with companies aiming to increase their market share among younger investors.
Chipper Cash, with its headquarters in San Francisco has successfully onboarded more than 5 million clients to facilitate payment transfers throughout 21 African countries.
TBD’s ability to facilitate payments in digital assets has piqued the interest of young people on the continent. This is because inflation is on the rise in several nations.
In recent times, an increasing number of individuals have been shifting their assets away from local fiat currency and into bitcoin, which is considered to be a hedge against inflation and a store of value.