Ripple has participated in Flutterwave's Series E funding round, valuing the African payments company at $3.2 billion and marking a strategic partnership centered on integrating RLUSD and the XRP Ledger into its payments infrastructure.
Flutterwave will use the capital and deepened product alliance to scale its stablecoin-enabled payments roadmap, accelerating a multi-year strategy to embed digital asset settlement, liquidity, and remittance rails into its core ecosystem, the company said in a statement on Tuesday.
The company, which bills itself as Africa's leading payments technology provider, said it has raised more than $500 million to date, processed more than 1 billion transactions worth over $50 billion and has infrastructure spanning 34 African countries.
According to the statement, the partnership is built on three core pillars: embedding RLUSD into Flutterwave's payment rails and Send App remittance corridors as a settlement asset for high-volume channels, using the XRP Ledger for faster transaction clearing, and deploying a unified API linking Flutterwave's domestic network with Ripple Payments.
RLUSD has a market capitalization of about $1.65 billion, according to The Block's data dashboard, compared with roughly $186.5 billion for Tether's USDT and approximately $75 billion for Circle's USDC. Dollar-pegged stablecoins collectively exceed $295 billion in supply.
