Ripple Invests in Flutterwave to Expand Stablecoin Payments in Africa
Ripple, the blockchain payment company, has announced a strategic investment in Flutterwave, a prominent African payments firm. The partnership is designed to broaden the reach of stablecoin-powered payments across the continent, with plans to integrate Ripple’s RLUSD stablecoin, Ripple Payments, and the XRP Ledger into Flutterwave’s existing infrastructure.
The funding round values Flutterwave, which provides payment infrastructure in Africa, at $3.2 billion. The company also disclosed that it has raised over $500 million and processed more than 1 billion transactions totaling over $50 billion.
According to an official statement, the collaboration will leverage RLUSD as a settlement asset across Flutterwave’s payment networks and its Send App remittance service. The XRP Ledger (XRPL) will be utilized to expedite transaction clearing. The initiative aims for practical settlement by combining Flutterwave’s diverse local payment methods—including bank transfers, mobile wallets, and cards—with Ripple’s established blockchain technology.
Reece Merrick, Managing Director, MEA at Ripple, commented on the investment: “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.”
This move aligns with Ripple’s broader strategy to promote RLUSD as an enterprise-grade stablecoin, moving beyond its perception as solely a retail trading asset.
Ripple has also been exploring new applications for XRP and RLUSD in payment solutions linked to autonomous AI agents, as previously reported. Furthermore, RLUSD’s prominence is growing amidst a wider institutional interest in stablecoins. Mastercard, for instance, recently expanded its stablecoin strategy through collaborations with Ripple and other cryptocurrency-focused companies.
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