FinTech company Ripple backed African payment provider Flutterwave to simplify access to liquidity for regional businesses, reduce foreign exchange costs, and enable real-time settlement capabilities.
Ripple, one of the leading providers of enterprise-grade blockchain infrastructure solutions, became a strategic investor in Flutterwave. The companies have already announced plans to integrate RLUSD, Ripple Payments, and XRP Ledger (XRPL) into Flutterwave’s infrastructure. The initiative aims to lower the cost of financial transfers and accelerate cross-border settlements across Africa.
Flutterwave is one of Africa’s largest payment platforms. Since its launch, the company has processed more than 1 billion transactions worth over $50 billion and raised more than $500 million in funding. As part of the Series E funding round that included Ripple, Flutterwave was valued at $3.2 billion.
The investment is expected to support Flutterwave’s long-term strategy of integrating stablecoins into the region’s payment infrastructure. In particular, the strategic partnership with Ripple is intended to strengthen the provider’s position in payment services for international companies, as well as small and medium-sized businesses across Africa.
The collaboration will focus on three key areas:
- RLUSD will be integrated into Flutterwave’s payment flows and Send App international transfer channels as the primary settlement asset.
- XRPL will serve as the technological foundation for faster transaction clearing.
- Flutterwave’s internal network and Ripple Payments will be connected through a unified API to streamline international settlements.
The partnership is expected to address several long-standing challenges in Africa’s cross-border payments sector, including transaction processing delays, high foreign exchange markups, and settlement inefficiencies. In turn, businesses are expected to benefit from more predictable pricing, improved liquidity, and faster transaction finality.
According to Reece Merrick, Managing Director, MEA at Ripple, the partnership will integrate RLUSD into Flutterwave’s payment infrastructure and strengthen XRPL’s role as a settlement layer for real-world payments. Olugbenga Agboola, Founder and CEO of Flutterwave, described the deal as an important step toward expanding a stablecoin-focused payment architecture and accelerating African businesses’ access to the global economy.
In October 2025, Flutterwave announced a strategic partnership with Polygon Labs to launch a pan-African cross-border settlement network powered by stablecoins. The initiative was designed to make payments between countries across the continent faster and more cost-effective.
