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Chipper Cash, the well-known African FinTech, has restarted its services in the United States.
The announcement comes following a brief delay to its expansion activities in the US earlier this year.
Having launched in the US in late 2022, Chipper Cash in the United States was set to bring a better way to send money to the millions of African diaspora living here, all the way across the Atlantic.
Overcoming Regulatory Hurdles: Chipper Cash Secures State Licensing
When Chipper Cash decided to offer its services to all Americans, it began a special program to get a license strategically so as to be able to operate everywhere in the country.
The halt in Chipper Cash’s operations in the United States was simply because it was seeking ways of dealing with the complex regulatory landscape of money transmission across individual states.
This dedication saw them secure money transmitter licenses in a surprising 80% of the American states.
Concerning the remaining 20 percent, Chipper Cash established strong partnerships with banks as a guarantee for full country coverage.
It is a commitment from Chipper Cash to provide safe and legally approved money services to users in the United States.
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Instant Money Transfers and More: A Boon for the African Diaspora
After fully launching its US operations, Chipper Cash in the United States can help millions of African immigrants and their families send money back to their home countries within minutes and without fees.
The Chipper Cash mobile app uses instant peer-to-peer (P2P) money transfers to circumvent the waiting times and high fees associated with traditional money transfer methods.
Users can send money directly to Chipper Cash recipients in eight African countries, including powerhouses like Nigeria, South Africa, and Kenya, as well as the United Kingdom.
Notably, users can transfer to Nigeria completely for free, a significant advantage for the large Nigerian diaspora community in the US.
Read More: Chipper Cash Lays Off Twenty more Staff in the US and UK
Beyond Money Transfer: Chipper Cash in the United States Offers a Suite of Financial Services
Money transfer was the first use case for Chipper Cash and remains the primary function for millions of its global users.
Chipper Cash in the United States offers more than just sending money abroad, as the platform was born out of an understanding that the United States is unique in the financial habits of the population.
In addition to being able to send money, US users can now top-up their Chipper Cash wallet from their US bank account so that they can send money on the platform instantly.
Additionally, Chipper Cash in the United States is a Registered Investment Advisor and is able to onboard users to invest in the stock market.
In partnership with the leading investment firms in the world, US users are able to buy a piece of one of the biggest companies in the world for as little as $1.
Users can invest in fractional shares of companies like Google, Visa, and Walmart, democratizing access to these opportunities for those who haven’t had the resources to meet the traditional minimum buy-in investment cost.
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Looking Ahead: Chipper Cash in the United States Poised for Growth
Chipper Cash has successfully launched its operations in the United States, which is a crucial step for the company.
Consequently, Chipper Cash has become a trustworthy and creative financial solution for Africans in the Diaspora by overcoming legal barriers to entry and entering into key alliances.
Operations of Chipper Cash in the United States make it poised for future rapid growth due to its range of services that extends beyond mere money transfer.
As they continue to refine their offerings and expand their reach, Chipper Cash has positioned itself to become an integral part of the financial landscape for millions of users in the US.
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