Expanding Horizons in Ghana’s Financial Market
Chipper Cash, a leading cross-border payments fintech, has made a significant leap forward by securing a broker-dealer licence from Ghana's Securities and Exchange Commission (SEC). This new development marks a pivotal moment in the company's journey, enabling it to operate within the country's financial markets and offering a broader range of services to its users.
Faster Trades and Competitive Pricing
With this newly acquired licence, Chipper Cash is set to revolutionize how individuals and institutions engage with financial markets in Ghana. The company can now offer brokerage services, providing clients with direct market access that ensures faster trade execution and competitive pricing. This move aligns with Chipper Cash's mission to democratize financial services across the continent.
Trading on the Go: Stocks, Bonds, and More
Chipper Cash users will soon have the ability to trade securities, such as stocks and bonds, directly through the app. This feature will include personalized investment advice powered by artificial intelligence, ensuring that users make informed decisions. Additionally, the platform will offer access to Initial Public Offerings (IPOs), giving investors the chance to get in on the ground floor of companies as they go public.
Fractional Investments: Making High-Priced Assets Accessible
One of the standout features Chipper Cash plans to introduce is fractional investing. This innovative offering will allow users to purchase smaller shares of high-priced stocks or exchange-traded funds (ETFs), making it easier for everyday investors to diversify their portfolios without needing large sums of money.
A Growing Portfolio: Chipper Cash’s Global Reach
Chipper Cash has been on a steady trajectory of growth, amassing up to 55 global licences, including in key markets like the United States. This extensive portfolio reflects the company’s commitment to expanding its footprint and offering seamless financial services across borders.
Resuming US Operations: A Strategic Move for Cross-Border Payments
Recently, Chipper Cash resumed its operations in the United States after transitioning to a new banking partner. This strategic move has reopened the doors for users in the US to send money to African markets, including Ghana, Nigeria, and Uganda. It’s a crucial step in strengthening the financial bridge between Africa and its diaspora.
Eyeing New Markets: Kenya on the Horizon
Looking ahead, Chipper Cash may soon expand its services to Kenya. The Central Bank of Kenya is considering amendments to its Payments Act, which could pave the way for fintech companies like Chipper Cash to obtain payment licences and operate within the country. This potential expansion underscores the company’s ambition to become a pan-African financial powerhouse.
