Ripple has become an equity investor in African fintech Flutterwave, a deal that values the payments company at $3.3 billion, as the blockchain firm continues to build out its global payment network. Flutterwave’s CEO Olugbenga Agboola confirmed that Ripple contributed new capital as part of the transaction, gaining a strategic ownership position without a commercial partnership. The exact investment amount and stake size remain undisclosed.
Flutterwave, which operates across 35 African countries, has built a robust payment infrastructure for businesses and consumers. This investment aligns with increasing demand for cheaper and faster cross-border transfers on the continent. Ripple’s move taps into Africa’s booming digital payments market, positioning the company to benefit from Flutterwave’s expansion.
In recent weeks, Ripple has expanded its payment infrastructure beyond Africa. The firm launched its RLUSD stablecoin in Turkey through partnerships with BiLira, Bitexen, and Bitlo. In Latin America, Ripple integrated Bitso’s Mexican peso-backed stablecoin MXNB into the XRP Ledger to facilitate cross-border payments between the U.S. and Mexico. Additionally, Ripple introduced the XRPL AI Starter Kit, enabling AI agents to autonomously transact using XRP and RLUSD via the x402 payment network.
Ripple is also positioning as an infrastructure partner for financial institutions. Cassie Craddock, Ripple’s UK and Europe managing director, noted that banks seek simpler access to blockchain benefits, including custody, liquidity, settlement, and compliance. Meanwhile, Ripple opened a larger regional headquarters at Dubai International Financial Centre after securing regulatory approval for international payment services and RLUSD usage in the hub.