Flutterwave, Africa’s leading payments infrastructure company, has secured a strategic investment from blockchain payments firm Ripple as part of its ongoing Series E fundraising round, a move aimed at accelerating stablecoin adoption and transforming cross-border payments across Africa.
The investment, which values Flutterwave at $3.2 billion, underscores growing institutional confidence in the fintech giant and strengthens its position as a key player in Africa’s rapidly evolving digital payments ecosystem.
According to the company, the partnership represents the next phase of Flutterwave’s long-term stablecoin strategy, combining its existing cross-border payment infrastructure with enterprise-grade blockchain liquidity solutions.
The initiative is expected to help African businesses overcome longstanding challenges associated with international transactions, including high costs, lengthy settlement periods, and foreign exchange inefficiencies.
Flutterwave said the collaboration will be anchored on the integration of RLUSD, Ripple’s U.S. dollar-backed stablecoin, into its payment ecosystem. The stablecoin will serve as a primary settlement asset across Flutterwave’s payment rails and its remittance platform, Send App, enabling faster and more efficient transactions across multiple African markets.
The company noted that the development is part of a multi-year roadmap that has seen it progressively integrate stablecoin-powered settlement, liquidity, and remittance services into its operations.
By embedding RLUSD into its infrastructure, Flutterwave aims to establish a “stablecoin-first” payment architecture capable of providing scalable, compliant, and cost-effective cross-border payment solutions.
Beyond stablecoin integration, the partnership will leverage the XRP Ledger (XRPL) to facilitate faster transaction clearing and settlement. Flutterwave and Ripple also plan to deploy a unified application programming interface (API) that will connect Flutterwave’s domestic payment network with Ripple Payments, Ripple’s global payment platform.
The companies said the initiative will merge traditional payment methods—including local bank transfers, cards, and mobile wallets—with blockchain technology, eliminating common barriers that have historically slowed cross-border trade in Africa.
Under the arrangement, businesses are expected to benefit from real-time settlements, improved liquidity, predictable pricing, and significantly reduced transaction costs.
Speaking on the investment, Reece Merrick, Managing Director for the Middle East and Africa at Ripple, described Flutterwave as one of the continent’s most advanced payment networks.
“Flutterwave has built one of the most advanced payments networks in Africa, and as its infrastructure evolves, stablecoins are becoming central to that story,” Merrick said.
“Our investment will establish RLUSD within that infrastructure, with Flutterwave driving stablecoin flows over the XRPL and deepening its role as a settlement layer for real-world payments across the continent. Together we also plan to bring Ripple Payments’ speed and efficiency to cross-border transactions in the region, opening up faster, lower-cost financial services to businesses and consumers at scale.”
Flutterwave Founder and Chief Executive Officer, Olugbenga Agboola, described the investment as a major milestone in the company’s growth journey.
“This investment marks a pivotal moment in our journey, enabling us to significantly scale our infrastructure and expand our stablecoin-enabled payments roadmap,” Agboola said.
“By unlocking faster settlement and lower-cost cross-border payments, we are building a payment superhighway that connects African commerce directly to the global economy. This partnership is a catalyst for Nigerian and African sovereignty in the digital financial age, ensuring our markets are primary participants in the global digital asset revolution.”
Industry analysts say the partnership highlights the growing role of regulated stablecoins in global commerce and reflects increasing interest in blockchain-based payment solutions as a means of improving financial inclusion and facilitating international trade.
The development is also expected to strengthen Nigeria’s position as an emerging hub for digital asset innovation and cross-border financial services.
Since its inception, Flutterwave has raised more than $500 million and processed over one billion transactions valued at more than $50 billion, making it one of Africa’s most successful technology companies.
With fresh capital and an expanded alliance with Ripple, Flutterwave said it will continue its efforts to bridge traditional financial systems with next-generation digital asset infrastructure, creating new opportunities for small and medium-sized enterprises (SMEs) and multinational businesses operating across the continent.
The company added that the investment lays the groundwork for further strategic announcements in the coming months as it advances its mission of building a seamless, continent-wide payments network powered by digital assets and modern financial technology.
