Ripple Invests in Flutterwave, Paving Way for Stablecoin-Powered Payments in Africa

Ripple has invested in Flutterwave's Series E funding round, valuing the African fintech company at $3.25 billion. The U.S. blockchain infrastructure company will integrate its U.S. dollar-backed stablecoin, RLUSD, into Flutterwave's payment infrastructure and remittance platform.

The partnership marks a significant milestone in Africa's emerging stablecoin economy, with Ripple gaining direct access to one of the continent's largest payments networks. Flutterwave will use Ripple's global settlement capabilities to reduce cross-border transaction costs and times for its clients.

Africa's stablecoin market is highly competitive, with Tether's USDT being the dominant player globally and Circle's USDC widely used by institutions. However, RLUSD has been growing rapidly since its launch in December 2024, surpassing a $1 billion market capitalization within a year.