Ripple has invested in African fintech company Flutterwave during its Series E funding round. The deal values Flutterwave at $3.2 billion and will integrate Ripple's RLUSD stablecoin along with the XRP Ledger into cross-border payments.
Ripple, the blockchain firm tied to the XRP Ledger network, participated in the round to expand stablecoin use for remittances and commerce across Africa.
Flutterwave will connect its infrastructure to RLUSD, Ripple Payments, and the XRP Ledger. The companies said this will allow businesses to settle international transactions faster and at lower cost than traditional banking channels.
"Flutterwave has built one of the most advanced payments networks in Africa, and as its infrastructure evolves, stablecoins are becoming central to that story," said Reece Merrick, managing director for MEA at Ripple.
RLUSD currently has a supply of $1.6 billion. The partnership highlights growing adoption of stablecoins for real-world payments in regions with limited access to foreign currencies.
