Ripple targets Africa’s remittance market with Flutterwave investment Ripple’s investment in Flutterwave will bring RLUSD, Ripple Payments and XRPL to one of Africa’s largest fintechs as blockchain remittances gain traction.
Blockchain payments company Ripple has acquired an equity stake in African fintech giant Flutterwave, deepening its push into one of the world’s fastest-growing cross-border payments markets
Flutterwave CEO Olugbenga Agboola said the undisclosed investment values the company at $3.3 billion, according to Bloomberg. The deal gives Ripple exposure to Africa’s expanding payments ecosystem while providing Flutterwave with additional resources to scale its financial infrastructure. The investment makes Ripple a shareholder rather than an owner or commercial partner.
Flutterwave operates in 35 African countries and has recently expanded its digital asset offerings by integrating stablecoin payment services. As part of the deal, Flutterwave will integrate Ripple’s RLUSD stablecoin, Ripple Payments and the XRP Ledger to make cross-border transactions faster and more cost-effective. The deal is the latest step in Ripple’s broader strategy to expand its blockchain-based payments network across Africa, where demand for faster and lower-cost international transfers continues to grow.