Funding Round · CoinDesk
The deal will integrate Ripple's U.S. dollar-backed stablecoin, RLUSD, into Flutterwave's payments infrastructure
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Flutterwave will also connect to Ripple Payments, Ripple's global payments network, and use the XRP Ledger blockchain to process transactions.
Key facts
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- RLUSD currently has a $1.6 billion in supply, growing over 20% this year but lagging rival issuers Tether, Circle and Paxos, RWA.xyz data shows
- Flutterwave said Tuesday that the funding round values the company at $3.2 billion
- Flutterwave will also connect to Ripple Payments, Ripple's global payments network, and use the XRP Ledger blockchain to process transactions
Summary
Ripple invested in African fintech Flutterwave's new funding round, valuing the company at $3.2 billion. Flutterwave will integrate Ripple's RLUSD stablecoin and the XRP Ledger network into its payments and remittance network. The companies said the partnership could help businesses move money across borders faster and at lower cost. Ripple, the blockchain firm closely associated with the XRP Ledger (XRP) network, invested in African payments company Flutterwave as part of its Series E funding round, a deal centered on expanding the use of stablecoins for cross-border payments. Flutterwave said Tuesday that the funding round values the company at $3.2 billion.