Chipper Cash

Chipper Cash is a mobile financial platform built for Africa, offering zero-fee peer-to-peer money transfers, virtual payment cards, fractional stock investing, and on-chain cryptocurrency support across nine African countries and the United States. Founded in 2018, it is one of the continent's most widely used cross-border fintech apps, processing more than 250,000 transactions per day for a user base of approximately seven million people.

Background and Founders

Chipper Cash was founded in San Francisco by Ham Serunjogi, a Ugandan entrepreneur, and Maijid Moujaled, who is from Ghana. The two met at Grinnell College in Iowa and started the company to address a friction point they had experienced firsthand: sending money between African countries was slow, opaque, and expensive. Traditional remittance corridors across Africa carried fees averaging 8% or more, and the mechanics of mobile money interoperability across borders were largely absent.

The company raised roughly $305 million across multiple rounds, achieving unicorn status in 2021 with a peak valuation exceeding $2 billion. Backers included Deciens Capital, Ribbit Capital, SVB Capital, Bezos Expeditions, and FTX Ventures. Like many high-growth fintech startups, Chipper faced a difficult period during the 2022–2024 market correction, conducting multiple rounds of staff reductions and narrowing its focus toward core profitable operations. The company has since stabilized, continued expanding its product suite, and marked its eighth year of operations in July 2026.

Core Product: Cross-Border Transfers

The flagship feature is free peer-to-peer money transfers between users, with support for sending to bank accounts and mobile money wallets in more than 21 African countries. Supported markets include Ghana, Nigeria, Uganda, Rwanda, South Africa, Tanzania, Kenya, Zambia, and the United States. The app is available on iOS and Android and is designed for simplicity: users link a local payment method and can send money to recipients in other countries within the same interface.

The zero-fee model for peer-to-peer transfers has been a key differentiator in markets where comparable services charge 5–10%. Chipper generates revenue through its broader financial services stack rather than per-transfer charges.

Chipper Card

Chipper issues virtual Visa cards that allow users to shop online globally, pay for subscriptions, and access international merchants. The company has issued more than one million virtual Visa cards. The card is available to users in multiple African countries and the United States.

Investing

The Invest tab gives users access to fractional shares in more than 6,000 publicly traded US companies, starting from $1. Chipper received broker-dealer license approval from the Ghana Securities and Exchange Commission in September 2024, formalizing its investment product in that market. Business accounts launched in Ghana in July 2025, extending the platform to merchants.

Cryptocurrency Support

Chipper Cash offers on-chain cryptocurrency functionality through its app. Users can deposit, withdraw, buy, and sell a range of crypto assets. Supported cryptocurrencies include:

• Bitcoin (BTC) — via the native BTC network and Bitcoin Lightning Network
• Ethereum (ETH) — Ethereum network
• Solana (SOL) — Solana network
• USD Coin (USDC) — available on Ethereum, Solana, TRON, and Polygon networks
• Tether (USDT) — available on Ethereum, Solana, TRON, and Polygon networks
• Dogecoin (DOGE)
• Litecoin (LTC)
• Avalanche (AVAX) — Avalanche C-Chain
• Polygon (MATIC)
• Uniswap (UNI) — ERC-20
• Chainlink (LINK) — ERC-20
• Ripple (XRP)

Solana is supported both as a native asset (SOL) and as a transaction network for USDC and USDT deposits and withdrawals. This makes Chipper Cash one of the few African fintech platforms to explicitly include Solana-based stablecoin transfers as part of its payment infrastructure. The crypto buy and sell feature is currently available for new users in Uganda; users in other markets have on-chain deposit and withdrawal access. The platform warns that crypto transactions sent to incorrect addresses or via incorrect networks are irreversible.

Strategic Partnerships

Chipper has pursued a series of blockchain and fintech integrations to extend its payment reach across the continent and abroad.

TBD (Block Inc.) — May 2024: Chipper partnered with Jack Dorsey's TBD subsidiary to integrate the tbDEX open protocol. This enables cross-border payments and decentralized identity use cases across up to 40 African countries. The integration allows Chipper users to receive value in Bitcoin, stablecoins, or USD, with the tbDEX protocol connecting liquidity providers to wallet applications through a compliant, open framework.

MoneyGram and Stellar — October 2024: A three-way integration with MoneyGram and the Stellar Development Foundation improved cash-in and cash-out access for Chipper users. Stellar's blockchain is used as a settlement layer; MoneyGram's global agent network provides the fiat on- and off-ramp for users without direct bank access.

Western Union — July 2025: Chipper added Western Union as a transfer channel, enabling users to send and receive international transfers via the Western Union network directly through the Chipper app.

Ripple RLUSD — September 2025: Chipper Cash was named a launch partner in Africa for Ripple's USD-backed stablecoin, RLUSD. This gives African users access to a regulated dollar-denominated stablecoin for cross-border payments, distributed through an established fintech platform.

Stable — December 2025: Chipper partnered with Stable, a USDT-powered blockchain network, to implement StableChain as a payment layer for stablecoin transactions on the Chipper platform. The partnership is specifically targeted at Africa's $96 billion annual remittance market, where transaction costs remained at 8.2% in early 2025 — well above the UN's 3% target.

Market Context

Africa receives approximately $96 billion in remittances annually. Cross-border transfer costs in the region remain among the highest in the world, creating structural demand for lower-cost alternatives. Chipper's zero-fee P2P model, combined with its expanding blockchain integrations, positions it alongside a growing wave of fintech infrastructure using programmable money to close that cost gap without relying on traditional correspondent banking rails.

Rwanda relaunched on Chipper in May 2025 after a period of service suspension. Business accounts for merchants were introduced in Ghana in July 2025. These moves point toward a platform widening its reach in markets where access to traditional banking infrastructure is limited.

Solana Fit

Chipper Cash is not a Solana-native application. It is a multi-chain fintech platform that includes Solana as one of several supported blockchain networks. SOL is a supported trading asset, and the Solana network is an available option for USDC and USDT on-chain deposits and withdrawals. For users moving dollar-denominated value across African borders using stablecoins, the Solana network's combination of low fees and fast settlement is a practical fit within a platform that competes on cost. As African fintech increasingly adopts stablecoins for remittances, support for Solana-based transfers positions Chipper within the broader Solana ecosystem's expansion into payments infrastructure.