Flutterwave announced the launch of a pan-African cross-border payment system using stablecoins, designed to make transactions between countries on the continent faster and cheaper.
Flutterwave, Nigeria’s leading FinTech company, revealed a strategic partnership with Polygon Labs, under which the Polygon blockchain will serve as the backbone of the new system for instant and low-cost cross-border payments across Africa. Users will be able to send funds via stablecoins with fiat conversion at the point of transfer and reconversion into local currency upon receipt.
According to Bloomberg, the system will be built on the Circle Payments Network (CPN) infrastructure, which Flutterwave and over 25 other African providers joined in 2025. The system will utilize stablecoins to simplify settlements between multinational corporations and individual users across the continent, reducing fees and providing instant transaction confirmations.
Flutterwave reports that the average cross-border payment fee in Africa exceeds 8% of the transfer amount, with processing times taking several days.
The new solution is set to launch by the end of 2025. At the first stage, Flutterwave will integrate stablecoin payments into its corporate platform Flutterwave for Business, enabling partners such as Uber and Audiomack to make fast payouts and currency conversions. In 2026, the feature will also be added to the consumer Send App.
The African cross-border crypto payments market is rapidly evolving, attracting numerous companies seeking to expand their services. Tether, Ripple, Mastercard, and others continue to strengthen their presence in the region. Recently, the PAPSSCARD, the first pan-African payment card, was also launched.
