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Ripple Expands Into Africa As It Backs Flutterwave
Ripple supports African payment landscape as it invests into Flutterwave.
RLUSD is set to expand in Africa (Namnso Ukpanah / Unsplash)
Ripple invests into Flutterwave.
Ripple has participated in Flutterwave's Series E round as the payments company raises at a $3.2B valuation. As part of its strategic investment, Flutterwave will adopt Ripple's RLUSD stablecoin to scale adoption.
In particular, it will be integrated with the SendApp product solutions meant for users to improve their remittance transfers.
Managing Director at Ripple Reece Merrick noted:
Our investment will establish RLUSD within that infrastructure, with Flutterwave driving stablecoin flows over the XRPL and deepening its role as a settlement layer for real-world payments across the continent.
Ripple is continuing to expand its presence globally.
With many licenses already secured across the U.S., Europe, and Asia, the team is eyeing African expansion to also service the increasing rate of stablecoin mobile adoption and for better business checkout experiences.
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