Ripple invests in Flutterwave to enhance stablecoin payments in Africa
- Ripple invested in Flutterwave’s Series E funding round, valuing the company at $3.2 billion.
- The investment aims to integrate Ripple’s U.S. dollar-backed stablecoin, RLUSD, into Flutterwave’s payment systems.
- Flutterwave will utilize Ripple Payments and the XRP Ledger for transaction processing.
- The partnership seeks to streamline cross-border transactions for businesses across Africa.
- This deal emphasizes the increasing importance of stablecoins in international payments.
Ripple’s strategic investment in Flutterwave is set to facilitate easier and cheaper international money transfers for African businesses by leveraging stablecoins and blockchain technology.
With a valuation of $3.2 billion, Flutterwave aims to enhance its payment infrastructure using Ripple’s RLUSD stablecoin and XRP Ledger. (Source)
