Ripple Joins Flutterwave’s Series E with Strategic Investment to Accelerate African Stablecoin Payments
Ripple’s investment will embed RLUSD and the XRP Ledger into Flutterwave’s network, aiming to speed settlement and cut cross-border payment costs for businesses.
- On Tuesday, African payments infrastructure company Flutterwave announced a Series E funding round valuing the firm at $3.2 billion, which includes a strategic equity investment from blockchain firm Ripple.
- Cross-Border payments in Africa remain challenging due to fragmented banking systems and currency volatility, prompting Flutterwave to seek solutions that bypass traditional banking networks.
- The partnership integrates Ripple's U.S. dollar-backed stablecoin, RLUSD, into Flutterwave's infrastructure, allowing businesses to settle international transactions faster using the XRP Ledger .
- Reece Merrick, Managing Director, MEA at Ripple, said "Flutterwave has built one of the most advanced payments networks in Africa," noting the investment establishes RLUSD as a primary settlement asset.
- Operating across 35 countries, Flutterwave plans to scale its infrastructure as the global stablecoin market reaches $300 billion, positioning the company to connect African commerce to worldwide financial networks.
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The NewsFintech leader Flutterwave is looking to boost acquisitions in sectors that bolster its digital payments network to become a one-stop shop for African business and consumers, the company’s CEO told Semafor, following an investment round that included an equity stake purchase by the US blockchain firm Ripple.The Nigeria-founded Flutterwave works in 35 African countries, helping businesses receive digital payments. It has recently expanded…
Ripple joins Flutterwave’s Series E with strategic investment to accelerate African stablecoin payments
Flutterwave, Africa’s leading payments infrastructure company, today announced a strategic investment from Ripple, the leading provider of blockchain-based enterprise solutions for traditional and digital finance. This partnership marks the definitive next phase of Flutterwave’s long-term stablecoin strategy, seamlessly connecting its existing cross-border settlement capabilities with enterprise-grade digital liquidity. By anchoring this infrast…
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