Chipper Cash, a cross-border payment platform, has been granted a broker-dealer licence by Ghana’s Securities and Exchange Commission (SEC).
This license grants Chipper Cash the legal authority to provide brokerage services, allowing both individual and institutional clients to engage in the buying and selling of securities directly through the platform.
Speaking on the license, Dion Jon Taylor Samson, Chief Executive Officer of Chipper Cash Ghana said,
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“It is very important for every entity that enters a market to adhere to the rules and regulations set by the regulatory bodies. While it can be time-consuming and sometimes frustrating, it ensures longevity in the business and protects both the company and its customers. We are excited to bring innovations in the financial market into the digital payment space.”
Additionally, users of the Chipper Cash app will soon be able to benefit from personalized investment advice powered by Al and gain access to Initial Public Offerings (IPOs), opening opportunities to invest in companies as they go public. The introduction of fractional investments is another key feature on the horizon, allowing users to invest smaller amounts in high-priced stocks or ETFs, further democratizing access to the stock market.
Founded in 2018 by Ham Serunjogi from Uganda and Maijid Moujaled from Ghana, the Chipper Cash platform enables free instant cross-border mobile money transfers in Africa as easy as sending a text message. The fintech has been steadily expanding its portfolio of global licenses, now holding 55 worldwide, including in the US. Recall that the fintech recently resumed its US operations after transitioning to a new banking partner, enabling seamless money transfers from the US to African markets like Ghana, Nigeria, and Uganda.
In May this year, the company unveiled a new payment links feature for easy hassle-free transactions. The payment Links offer a simple, hassle-free way to request payments. With just a few clicks, users can create a custom payment link for any amount and share it with anyone, anywhere in the world. When the recipient clicks the link, they’ll be taken to a secure, Chipper-hosted page where they can complete the payment with ease. The feature is designed to make sending and receiving payments more seamless, whether for personal or business transactions.
Chipper’s mission has always been to provide seamless, accessible financial solutions that empower its customers across Africa and beyond. With its new broker-dealer license in Ghana, the fintech continues to solidify its position as a leading fintech in Africa, offering innovative financial solutions that bridge the gap between traditional finance and digital payments.