{"id":13093,"date":"2021-11-02T16:01:07","date_gmt":"2021-11-02T15:01:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=13093"},"modified":"2021-11-02T16:01:19","modified_gmt":"2021-11-02T15:01:19","slug":"ftx-supports-african-fintech-unicorn-chipper-cash-in-150m-fundraise","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ftx-supports-african-fintech-unicorn-chipper-cash-in-150m-fundraise\/","title":{"rendered":"FTX supports African fintech unicorn Chipper Cash in $150M fundraise"},"content":{"rendered":"\n
According to TechCrunch, crypto exchange FTX <\/a>led a $150 million Series C extension fundraise for African remittance company Chipper Cash.<\/h5>\n\n\n\n
\"FTX<\/figure>\n\n\n\n

This new round of investment comes six months after the fintech startup raised $100 million in a Series C funding round led by SVB Capital. Chipper Cash <\/a>provides fee-free peer-to-peer cash transfers in Nigeria, Ghana, Tanzania, and South Africa, among other countries in Sub-Saharan Africa. In order to facilitate remittance flows from African expatriates living abroad, the firm has begun to expand its services to Europe<\/a>.<\/p>\n\n\n\n

Chipper Cash will soon be available on the FTX \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>trading platform for FTX customers in Africa as part of the cooperation. This collaboration, according to the FTX CEO, is a “compelling use case” for both companies because it expands the fintech firm's network API integration.<\/p>\n\n\n\n

Given the company's recent pilot test of digital currency peer-to-peer transfers in South Africa and Uganda, the alliance might help it transition to cryptocurrency payments.<\/p>\n\n\n\n

Crypto <\/a>popularity is increasing<\/h2>\n\n\n\n

The announcement also represents FTX's first investment in the African market, as crypto use continues to rise on the continent. Africa's crypto market grew by over $105 billion between June 2020 and July 2021, according to a Chainalysis report released in September, with cryptocurrencies appearing to offer a viable channel for improving remittance flows.<\/p>\n\n\n\n

Crypto <\/a>adoption has risen in lockstep with the continent's general expansion of fintech services, which typically aim to improve access to financial services for the unbanked.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to TechCrunch, crypto exchange FTX led a $150 million Series C extension fundraise for African remittance company Chipper Cash. This new round of investment comes six months after the fintech startup raised $100 million in a Series C funding round led by SVB Capital. Chipper Cash provides fee-free peer-to-peer cash transfers in Nigeria, Ghana, […]<\/p>\n","protected":false},"author":13,"featured_media":13102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5313,1692],"class_list":["post-13093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-chipper-cash","tag-fintech"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/11\/image-11.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/13093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=13093"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/13093\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/13102"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=13093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=13093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=13093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}