Ripple takes stake in Flutterwave to target Africa remittances

Ripple has acquired a stake in Nigerian payments firm Flutterwave, the companies announced, as part of plans to extend cross-border remittance services across African markets.

The agreement connects Ripple’s global payments infrastructure and liquidity tools with Flutterwave’s merchant and consumer payment rails across multiple African countries. Company statements describe the partnership as a way to enable faster and lower-cost transfers between African markets and international corridors, with a focus on personal remittances.

Ripple provides blockchain-based payment software and liquidity products designed to reduce the need for pre-funded local currency accounts. Flutterwave operates payment infrastructure and application programming interfaces used by merchants, banks and fintechs and processes both local and cross-border transactions. The firms said they will explore technical integrations that combine Ripple’s cross-border tools with Flutterwave’s local reach.

The announcement did not include the investment’s dollar value or the percentage of ownership. The companies said they will work with local banks, regulators and payment partners to test integrations and to meet anti-money-laundering and foreign-exchange compliance requirements in each jurisdiction.

Market participants note that global payments firms commonly partner with local processors to access fragmented markets where regulatory regimes and banking infrastructure differ by country. For remittances to Africa, high fees and limited payout options remain barriers for senders and recipients; the firms plan pilots aimed at lowering transaction costs and shortening settlement times.

Flutterwave was founded in 2016 and provides merchant payment processing, card issuance and cross-border payment services. It has raised capital from global investors and maintains partnerships with banks and multinational firms operating in Africa. Ripple was founded in 2012 and develops distributed-ledger technology for cross-border payments and settlement.

The companies said they expect to run pilot programs and develop on-ramps using their combined platforms, working with local partners to roll out services that move foreign currency into and out of African economies.