Ripple has made a strategic investment in Flutterwave, aiming to introduce its stablecoin and XRP Ledger into the payment systems across Africa. The partnership values Flutterwave at $3.2 billion and will integrate Ripple’s RLUSD along with the XRP Ledger network to expedite cross-border transactions on the continent.

— Ripple’s investment in the African fintech company Flutterwave’s latest funding round puts the company’s valuation at $3.2 billion.

— Flutterwave plans to incorporate Ripple’s RLUSD stablecoin and the XRP Ledger network into its payment and remittance services.

— The collaboration is expected to facilitate faster and more cost-effective money transfers for businesses operating across borders.

Ripple, known for its close association with the XRP Ledger (XRP) network, has invested in Flutterwave as part of its Series E funding round, focusing on expanding the adoption of stablecoins for international payments. Flutterwave announced on Tuesday that the funding round has set its valuation at $3.2 billion, although the financial details of Ripple’s investment remain undisclosed.

This agreement will see Ripple’s U.S. dollar-pegged stablecoin, RLUSD, integrated into Flutterwave’s payment infrastructure, enabling businesses to conduct certain international transactions using digital dollars instead of relying exclusively on conventional banking systems. Furthermore, Flutterwave will connect with Ripple Payments, Ripple’s global payments network, and utilize the XRP Ledger blockchain to facilitate transactions.

Both companies have stated that their objective is to simplify and reduce the costs associated with international money transfers for businesses throughout Africa. This partnership highlights the increasing significance of stablecoins in the realm of international payments, which is rapidly becoming one of the fastest-growing applications in the digital asset sector. While cryptocurrencies are typically linked to trading activities, stablecoins are progressively being adopted by businesses and individuals alike to transfer funds across borders and manage U.S. dollar liquidity in areas where access to foreign currencies may be limited.

«Flutterwave has established one of Africa’s most sophisticated payment networks, and as its infrastructure advances, stablecoins are becoming a crucial component of its evolution,» stated Reece Merrick, managing director, MEA at Ripple. «Our investment will entrench RLUSD within that infrastructure, with Flutterwave facilitating stablecoin transactions over the XRPL and enhancing its role as a settlement layer for real-world payments across the continent.»

For Ripple, this investment broadens the reach of RLUSD in a region where remittances and cross-border trade are vital to the economy. Currently, RLUSD has a supply of $1.6 billion, reflecting a growth of over 20% this year, although it still trails behind competitors like Tether, Circle, and Paxos, according to RWA.xyz data. The total global supply of stablecoins has now reached $300 billion.

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In May, combined exchange volumes decreased by 3.45% to $4.41 trillion, marking the lowest level since September 2024. Conversely, RWA perpetual futures volumes increased by 10.4%, reaching a new all-time high.

In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.