Ripple has invested in African fintech Flutterwave in its Series E funding round, valuing the company at $3.2 billion. The deal will integrate Ripple's RLUSD stablecoin and the XRP Ledger network into Flutterwave's payments and remittance infrastructure, aiming to speed cross-border payments and reduce costs across Africa. RLUSD, a U.S. dollar-backed stablecoin, currently has a $1.6 billion supply, growing over 20% this year but lagging behind rivals like Tether, Circle, and Paxos. The partnership highlights the growing use of stablecoins for international payments, a key use case in regions with limited access to foreign currencies. For Ripple, this investment expands RLUSD's footprint in Africa, where remittances and cross-border commerce are vital. Flutterwave's integration of Ripple's network aims to position the XRP Ledger as a settlement layer for real-world payments across the continent.

Key facts

• Ripple invests in Flutterwave's Series E, valuing the company at $3.2 billion.
• Flutterwave will integrate Ripple's RLUSD stablecoin and XRP Ledger for payments.
• Partnership aims to speed cross-border payments and reduce costs in Africa.
• RLUSD supply is $1.6 billion, growing 20% this year but trailing rivals.
• Global stablecoin supply has reached $300 billion.

KeyAudit data perspective