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Ripple backs Flutterwave
Ripple took an equity stake in Flutterwave as part of a Series E round valuing the Nigerian fintech at roughly $3.2 billion, and the partnership was announced June 16.
The integration is designed to weave Ripple’s RLUSD stablecoin, Ripple Payments, and the XRP Ledger into Flutterwave’s infrastructure across 34 African markets.
Ripple said the deal would process over $40 billion in total volume through Flutterwave’s network, and Flutterwave has processed more than $40 billion in total payment volume and over 1 billion transactions since its founding.
In the arrangement, RLUSD becomes a primary settlement asset for remittances processed through the Flutterwave Send App, with the XRP Ledger handling clearing and a unified API connecting Flutterwave’s domestic payment rails with Ripple’s global network.
Statements and stablecoin role
Ripple managing director for MEA Reece Merrick said, "Our investment will establish $RLUSD within that infrastructure, with Flutterwave driving stablecoin flows over the XRPL," as the companies framed the move as stablecoin settlement for real-world payments.
Cryptonews.net similarly described the plan to integrate Ripple’s $RLUSD stablecoin and the $XRP Ledger network into Flutterwave’s payments and remittance network, positioning it as a way to help businesses move money across borders faster and at lower cost.
The Crypto Briefing said RLUSD is intended to settle transactions when someone in London sends money to Lagos, using Ripple’s dollar-pegged stablecoin rather than bouncing through multiple correspondent banks.
Cryptonews.net added that the companies said the goal is to make it easier and cheaper for businesses across Africa to send and receive money internationally, while noting that financial terms of Ripple’s stake were not disclosed.
What’s at stake next
The Crypto Briefing warned that Nigeria banned banks from servicing crypto exchanges in 2021 before partially reversing course, and it said future regulatory shifts could complicate RLUSD’s integration into local payment flows.
“Summary - Ripple acquired a stake in Flutterwave as it seeks to combine its blockchain payments infrastructure with the African fintech company’s local network”
It also highlighted execution risk in building a unified API across 34 markets with different regulatory frameworks, banking systems, and currency regimes that would take time to fully deploy.
Beyond the integration, the partnership is presented as a way to accelerate stablecoin settlement in cross-border payments, with Flutterwave’s network operating across 34 to 35 African countries.
Cryptonews.net reported that Flutterwave said the funding round values the company at $3.2 billion, while also stating that Ripple’s stake size was not disclosed, leaving the exact ownership terms unclear as the rollout depends on regulatory acceptance across markets.
