<p>Crypto exchange FTX has led a <a href="https://techcrunch.com/2021/11/01/chipper-cash-gets-2b-valuation-with-150m-extension-round-led-by-ftx/">$150 million</a> Series C extension fundraise for African remittance outfit Chipper Cash, according to TechCrunch.</p> <p>This fresh capital injection comes six months after the fintech company closed a $100 million Series C funding round that drew investors like SVB Capital.</p> <p>Chipper Cash offers feeless peer-to-peer cash transfers across several countries in Sub-Saharan Africa including Nigeria, Ghana, Tanzania, and South Africa. The company has also begun extending its services to Europe to enable easier remittance flows from African expatriates overseas.</p> <p>As part of the partnership, FTX users in Africa will soon be able to use Chipper Cash on the FTX trading platform. FTX CEO Sam Bankman-Fried called this collaboration a “compelling use case” for both companies as it further extends the fintech outfit’s network API integration.</p> <p>The partnership could also facilitate the company’s pivot to cryptocurrency payments, given its recent pilot test of digital currency peer-to-peer transfers in South Africa and Uganda.</p> <h2>Growing crypto adoption</h2> <p>The news also marks the first investment foray by FTX into the African market as crypto adoption on the continent continues to grow.</p> <p>According to a Chainalysis<a href="https://blog.chainalysis.com/reports/africas-grassroots-cryptocurrency-adoption"> report</a> in September, Africa’s crypto market grew by over $105 billion between June 2020 and July 2021 with cryptocurrencies seemingly offering a viable channel for improving remittance flows.</p> <p>Crypto adoption has also grown in tandem with a general expansion in fintech services on the continent that usually aim to improve access to financial services for the unbanked demographic.</p>