Ripple has invested in Nigerian payments company Flutterwave in a Series E funding round that values the fintech firm at $3.2 billion, reinforcing its position as one of Africa’s leading payments infrastructure providers and accelerating its push into stablecoin-powered cross-border payments.
The investment marks a significant step in Flutterwave’s strategy to make moving money across borders faster, cheaper and more seamless for businesses and individuals across Africa.
Over the years, Flutterwave has built one of the continent’s largest payments ecosystems, connecting businesses and consumers through a network that supports bank transfers, cards, mobile money and remittance services across multiple markets. The company is now extending that infrastructure into stablecoin-enabled payments as demand grows for faster and more efficient international money movement.
Under the partnership, Flutterwave will integrate Ripple’s USD-backed stablecoin, RLUSD, the XRP Ledger (XRPL) and Ripple’s global payments network into its existing payment infrastructure.
The company said the move will help reduce friction in cross-border transactions by enabling faster settlement, improving liquidity and lowering the cost of moving money internationally.
For businesses, particularly SMEs and enterprises that pay overseas suppliers or receive payments from international customers, the integration could mean quicker access to funds, lower transaction costs and more efficient treasury management.
For individuals, especially Africans in the diaspora and families receiving remittances, Flutterwave said its Send App will benefit from the integration through faster transfers, more competitive exchange rates and a smoother experience when sending and receiving money across borders.
The partnership will see RLUSD embedded into Flutterwave’s payment rails and Send App remittance platform, while the XRP Ledger will be used to accelerate transaction processing. A unified API will also connect Flutterwave’s network with Ripple’s global payments infrastructure.
Ripple said the collaboration combines traditional payment methods with blockchain-powered settlement technology to improve the speed and efficiency of cross-border payments across Africa.
Flutterwave Founder and Chief Executive Officer, Olugbenga Agboola, described the investment as an important milestone in the company’s growth journey, saying it reinforces Flutterwave’s commitment to building the infrastructure that enables businesses and individuals across Africa to participate more seamlessly in the global economy.
Ripple’s Managing Director for Middle East and Africa, Reece Merrick, said Flutterwave already operates one of Africa’s most advanced payments networks and that the partnership would further strengthen real-time settlement capabilities and financial connectivity across the continent.
