Ripple Invests in Flutterwave to Expand Stablecoin Payments Across Africa

Ripple has invested in African fintech giant Flutterwave as part of the company's Series E funding round, strengthening efforts to expand stablecoin-powered cross-border payments across the continent.

Flutterwave announced that the funding round values the company at $3.2 billion, although the financial details of Ripple's investment were not disclosed. The partnership focuses on integrating Ripple’s U.S. dollar-backed stablecoin, RLUSD, into Flutterwave’s payment infrastructure to help businesses settle international transactions more efficiently.

Through the collaboration, Flutterwave will connect to Ripple Payments, Ripple’s global payments network, and leverage the XRP Ledger (XRPL) blockchain to process transactions. The integration is expected to provide businesses across Africa with faster, more affordable, and more reliable cross-border payment solutions compared to traditional banking systems.

The move highlights the growing adoption of stablecoins in global payments. While cryptocurrencies are often associated with trading and investment, stablecoins have emerged as a practical tool for international money transfers, remittances, and access to U.S. dollar liquidity, particularly in regions where foreign currency availability can be limited.

Ripple sees the partnership as a major step toward increasing the use of RLUSD within real-world payment networks. According to Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, Flutterwave has developed one of Africa’s most advanced payment ecosystems, making it an ideal platform for stablecoin adoption. He noted that the investment will help establish RLUSD within Flutterwave’s infrastructure while increasing the role of the XRP Ledger as a settlement layer for international payments.

For Ripple, the deal also expands the reach of RLUSD in a key market where remittances and cross-border commerce play a significant role in economic activity. Data from RWA.xyz shows that RLUSD currently has a circulating supply of approximately $1.6 billion and has grown more than 20% this year. However, it remains smaller than leading stablecoin issuers such as Tether, Circle, and Paxos.

The partnership comes as the global stablecoin market surpasses $300 billion in supply, underscoring the increasing demand for blockchain-based payment solutions and digital dollar transactions worldwide.