Ripple Backs Flutterwave Series E to Drive African Stablecoin Payments
Valued at $3.2 billion, African payments giant Flutterwave has secured a strategic investment from Ripple as part of its Series E funding round. The partnership aims to integrate Ripple’s USD-denominated stablecoin, RLUSD, and the XRP Ledger into Flutterwave’s infrastructure to streamline cross-border settlements across the continent.
The collaboration marks a definitive shift in Flutterwave’s long-term strategy, moving toward a stablecoin-first architecture designed to bypass the traditional frictions of African financial markets. By embedding RLUSD into its payment rails and Send App remittance corridors, the company intends to replace multi-day delays and high foreign exchange margins with real-time settlement and predictable pricing.
Reece Merrick, Managing Director for MEA at Ripple, noted that the investment will establish RLUSD as a primary settlement asset for high-volume channels. Flutterwave CEO Olugbenga Agboola described the alliance as a catalyst for regional financial sovereignty, connecting local commerce directly to the global digital economy. With over $500 million raised to date and more than $50 billion in processed transactions, Flutterwave plans to use this capital to scale its infrastructure and expand its unified API, bridging domestic networks with Ripple’s global payment systems.
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