Flutterwave, Africa’s leading payments infrastructure company, has announced a strategic investment from Ripple, a provider of blockchain-based enterprise solutions, as part of its Series E funding round, valuing the firm at $3.2bn.
The investment sees Ripple’s USD-denominated stablecoin RLUSD, its payments network, and the XRP Ledger (XRPL) integrated into Flutterwave’s payment infrastructure. The deal forms part of Flutterwave’s broader Series E fundraise, with further strategic announcements expected in the coming months.
The partnership is structured around three pillars: embedding RLUSD into Flutterwave’s payment rails and Send App remittance corridors as a primary settlement asset for high-volume channels; utilising the XRPL for faster transaction clearing; and deploying a unified API to connect Flutterwave’s domestic network with Ripple Payments, Ripple’s global payments network.
By combining traditional fiat payment methods, including local cards, mobile wallets, and bank transfers, with Ripple’s enterprise blockchain technology, the partnership aims to remove longstanding friction in African cross-border payments, such as multi-day delays and elevated foreign exchange margins, replacing them with real-time settlement, guaranteed liquidity, and predictable pricing.
Flutterwave provides payments infrastructure across Africa, having raised more than $500m to date and processed over one billion transactions valued at more than $50bn.
The latest integration is presented as the culmination of that multi-year roadmap, with the company seeking to bridge traditional financial systems with digital asset infrastructure and position Nigeria as a hub for global digital asset trade.
Ripple managing director, MEA Reece Merrick said, “Flutterwave has built one of the most advanced payments networks in Africa, and as its infrastructure evolves, stablecoins are becoming central to that story.
“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 CEO Olugbenga “GB” Agboola said, “This investment marks a pivotal moment in our journey, enabling us to significantly scale our infrastructure and expand our stablecoin-enabled payments roadmap. 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.”
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