Flutterwave Adds Ripple to Stablecoin Network in US$3.2 Billion Funding Round

African startup Flutterwave has added several stablecoin and blockchain partners to its payments ecosystem over the past year. Although the agreements involve different providers, they point to a growing focus on strengthening cross-border payment and settlement infrastructure across Africa.

The latest development came on June 16 when Ripple acquired an equity stake in Flutterwave as part of the company’s Series E funding round, which valued the fintech at US$3.2 billion. The partnership will see Ripple’s RLUSD stablecoin, Ripple Payments network and XRP Ledger integrated into Flutterwave’s payment infrastructure across 34 African markets.

The agreement adds to a growing list of blockchain partnerships. In October 2025, Flutterwave selected Polygon as its preferred blockchain for stablecoin settlements. The company launched merchant stablecoin wallets in January 2026 and, earlier this month, partnered with Tempo, a payments-focused blockchain backed by Stripe. Flutterwave has also joined Circle’s payment network.

Building Multiple Settlement Rails

Instead of backing a single blockchain network, Flutterwave is building a payment infrastructure that can operate across multiple settlement rails. Flutterwave’s strategy reflects the reality that no single network can efficiently serve every payment corridor across Africa.

Different blockchain networks offer different strengths. Some prioritise settlement speed, while others offer deeper liquidity or stronger ecosystem support. By maintaining relationships with multiple providers, Flutterwave gains greater flexibility in how transactions are routed and settled. The approach also reduces dependence on any single provider. At a time when no blockchain has established itself as the standard for global payments, the ability to move transactions across different networks may prove more valuable than relying on a single platform.

Targeting Cross-Border Payment Costs

The strategy addresses a long-standing challenge in African payments. Cross-border transactions into sub-Saharan Africa remain among the most expensive globally, with transfers frequently passing through correspondent banking networks before reaching their final destination.

These intermediary networks can increase costs and extend settlement times. Stablecoins offer an alternative by enabling value to move directly between parties without relying on multiple banking intermediaries.

For businesses operating across several African markets, faster settlement can improve cash flow management and reduce exposure to foreign exchange delays. Stablecoins also provide an additional settlement option outside traditional banking hours, which can be particularly useful for businesses managing liquidity across multiple jurisdictions.

Flutterwave CEO Olugbenga Agboola has previously described stablecoins as a settlement layer that complements the company’s existing payment infrastructure rather than replacing it. Under that model, businesses continue using familiar payment channels while stablecoins handle parts of the settlement process in the background.

Stablecoins Gain Ground in African Payments

Flutterwave is not alone in exploring stablecoin-powered payments. In January 2026, M-PESA partnered with Abu Dhabi’s ADI Foundation to introduce blockchain and stablecoin-based payment capabilities across its network. Paystack has also identified stablecoins as a key area of focus and is reportedly working toward regulatory approval in a major market.

Other African fintech companies are moving in a similar direction. Chipper Cash has partnered with Ripple on cross-border crypto payments, while Paga announced a partnership with the Sui blockchain in May 2026 to support stablecoin payment infrastructure.

Global payments firms are also increasing their activity in the sector. Mastercard partnered with Yellow Card in May 2026 to accelerate stablecoin adoption across Africa. MoneyGram launched its own stablecoin, MGUSD, and partnered with NALA to support stablecoin payouts across Africa and Asia. Tether has invested in LemFi as part of efforts to expand USDT-powered remittance services.

Flutterwave’s recent partnerships suggest the company is focused less on promoting a particular blockchain and more on expanding the number of settlement options available to its customers. The recent wave of partnerships suggests that payment providers are focusing on interoperability, allowing transactions to move across different networks depending on cost, speed and corridor requirements.