Ripple invests in Flutterwave at $3.2bn valuation to expand stablecoin payments across Africa

US blockchain firm Ripple has invested in Nigerian payments company Flutterwave as part of the fintech’s Series E funding round, in a deal that values the company at $3.2 billion and signals growing institutional backing for Africa’s digital payments and stablecoin infrastructure.

The investment deepens collaboration between both firms and will see Ripple’s USD-backed stablecoin RLUSD, the XRP Ledger (XRPL), and its global payments network integrated into Flutterwave’s existing infrastructure to enhance cross-border settlement across African markets.

Flutterwave said the partnership reflects the next phase of its stablecoin strategy, which aims to strengthen its cross-border payments rails by embedding digital liquidity solutions into its core ecosystem and reducing friction in international transactions.

According to the company, the integration will support faster settlement times, improved liquidity, and lower transaction costs for businesses and consumers across its markets, particularly in remittance and enterprise payment corridors.

The firm added that it has been steadily building toward a stablecoin-enabled payments architecture over several years, positioning digital assets as a key layer in its broader infrastructure for global commerce.

The partnership will also focus on integrating RLUSD into Flutterwave’s payment rails and Send App remittance product, while leveraging the XRP Ledger for faster transaction processing and deploying a unified API to connect Flutterwave’s network with Ripple’s global payments system.

Ripple said the collaboration is designed to improve efficiency in cross-border payments by combining traditional payment methods such as bank transfers, cards, and mobile money with blockchain-based settlement infrastructure.

Olugbenga Agboola, Flutterwave founder and Chief Executive Officer, said the investment marks a significant milestone in the company’s growth journey and supports its goal of expanding access to faster and more affordable cross-border payments across Africa.

He added that the partnership will help strengthen Africa’s participation in the global digital asset economy while improving payment infrastructure for businesses of all sizes.

Reece Merrick, Ripple’s managing director for Middle East and Africa, said Flutterwave has built one of the continent’s most advanced payment networks, adding that the integration of RLUSD and Ripple’s infrastructure will help unlock faster and more efficient financial services across the region.

Flutterwave, which has processed over one billion transactions valued at more than $50 billion, said the new investment will further accelerate its expansion across stablecoin-powered payments and global settlement infrastructure for African enterprises.