Ripple targets Africa’s remittance market with Flutterwave investment
Ripple has taken an equity stake in African fintech Flutterwave, marking a deeper push into cross-border payments across Africa. Flutterwave CEO Olugbenga Agboola said the undisclosed investment values Flutterwave at $3.3 billion. Ripple becomes a shareholder and will help Flutterwave integrate RLUSD stablecoin, Ripple Payments, and the XRP Ledger to speed up and reduce the cost of international transfers. Flutterwave operates in 35 African countries and has expanded into digital asset payments. The deal fits Ripple’s broader Africa strategy, following its partnership with South Africa’s Absa Bank for digital asset custody. Africa is becoming a major crypto and remittance market: demand for cheaper cross-border payments is rising, and stablecoins are gaining traction because they can sharply cut remittance fees compared with traditional transfer methods.
