Ripple Expands Africa Strategy With Flutterwave Investment

Ripple has bought an equity stake in African fintech Flutterwave, deepening its push into cross-border payments. Flutterwave CEO Olugbenga Agboola said the undisclosed investment values the company at $3.3 billion. The deal makes Ripple a shareholder rather than an owner or commercial partner and gives it exposure to Africa’s payments ecosystem while supplying Flutterwave with resources to scale.

Flutterwave operates in 35 African countries and has expanded its digital asset offerings by integrating stablecoin payment services. Under the deal, Flutterwave will integrate Ripple’s RLUSD stablecoin, Ripple Payments and the XRP Ledger to speed up and reduce the cost of cross-border transactions.

The investment fits into Ripple’s broader strategy to build its blockchain-based payments network across Africa, where demand for faster, lower-cost international transfers is growing. Last October, Ripple partnered with South Africa’s Absa Bank to provide digital asset custody solutions to institutional clients.

South Africa, Africa

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