RedotPay, a fintech company specializing in stablecoin-based payments, has expanded its global money transfer capabilities by integrating Ripple's cross-border payments technology. The move includes the launch of a new option that allows users to send cryptocurrencies and recipients to receive Nigerian Naira (NGN) directly into their local bank accounts.
Announced on December 2nd, the update aims to allow users to easily and quickly convert their digital assets to NGN. Verified RedotPay customers with Nigerian bank accounts can receive funds within minutes when senders send XRP or other supported cryptocurrencies.
Focus on faster global transfers
For many users, cross-border payments remain slow and expensive. International money transfers often take several days and incur fees of 6% or more on average. As demand for faster and lower-cost alternatives increases, Ripple's payment technology is being used to support RedotPay's efforts to provide near-instant payments and transparent pricing.
The new NGN payment feature is supported on a wide list of digital assets including USDC, USDT, BTC, ETH, SOL, TON, TRX, XRP, and BNB. RedotPay says Ripple's enterprise-grade infrastructure helps the platform achieve faster payments and more predictable conversions. Ripple’s upcoming RLUSD stablecoin will also be added as it becomes available.
Ripple’s role in expansion
Jack Kallinen, who oversees Ripple's commercial operations in Asia Pacific, said the partnership shows how blockchain-based solutions can simplify international payments for both individuals and businesses.
RedotPay plans to continue expanding its payment options to more countries as part of its strategy to support digital workers, freelancers, entrepreneurs, and people sending money from abroad.
Based on previous market expansion
The rollout of NGN follows RedotPay's previous introduction of similar services for Brazil and Mexico, allowing users to send cryptocurrencies and recipients to receive funds in BRL or MXN. By integrating with Ripple Payments, the company aims to strengthen its presence in emerging markets where stablecoin usage and digital money transfers are rapidly growing.
