Ripple invests in Flutterwave to expand RLUSD across Africa
In brief
- Ripple invested in Flutterwave's Series E round, valuing the African payments firm at $3.2 billion.
- Flutterwave will integrate RLUSD and XRP Ledger into its payment network and Send App remittance service.
- Ripple's Luxembourg crypto-asset service provider license enables regulatory reach across 30 European Economic Area countries.
- Launch timing, transaction volumes, and customer savings projections remain undisclosed.
Africa and Europe in parallel
Ripple participated in Flutterwave's Series E financing round, which valued the African payments company at $3.2 billion. The partnership calls for Flutterwave to integrate RLUSD, Ripple Payments, and the XRP Ledger into infrastructure that connects businesses with cards, bank transfers, mobile wallets, and other domestic payment methods.
Flutterwave revealed plans to use RLUSD as a settlement asset within its payment network and Send App remittance service. The arrangement could allow a business to accept or send money through familiar local methods while RLUSD moves between financial intermediaries in the background. Flutterwave intends to use the XRPL blockchain network to clear transactions and connect its regional infrastructure with Ripple's international payout network through a common application programming interface.
European regulatory footing
Ripple's proposed crypto-asset service provider license in Luxembourg would provide regulatory reach across the European Economic Area. This preliminary approval gives Ripple a compliance pathway under the European Union's Markets in Crypto-Assets Regulation (MiCA) framework, which came into force in 2024.
Flutterwave's broader stablecoin infrastructure is already operating commercially and being tested within Send App. The companies have not provided a launch timetable, expected transaction volume, or projected savings for customers.
Reece Merrick, Ripple's managing director for the Middle East and Africa, said in a statement that the investment would place RLUSD within Flutterwave's infrastructure and direct stablecoin flows through the XRP Ledger. The move addresses what's long been RLUSD's core challenge: distribution channels that can move volume at scale.
