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Ripple invests in Flutterwave, pushing its stablecoin and XRP Ledger into payments across Africa
Key takeaways
- Flutterwave said Tuesday that the funding round values the company at $3.2 billion.
- Flutterwave will also connect to Ripple Payments, Ripple's global payments network, and use the XRP Ledger blockchain to process transactions.
- The companies said the goal is to make it easier and cheaper for businesses across Africa to send and receive money internationally.
Flutterwave said Tuesday that the funding round values the company at $3.2 billion. Financial terms of Ripple's stake were not disclosed.
The deal will integrate Ripple's U.S. dollar-backed stablecoin, RLUSD, into Flutterwave's payments infrastructure, allowing businesses to settle some international transactions using digital dollars rather than relying solely on traditional banking networks.
Flutterwave will also connect to Ripple Payments, Ripple's global payments network, and use the XRP Ledger blockchain to process transactions.
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