Circle has invested into Flutterwave in Africa.
The platform scaling national and local payments in Africa has received a strategic investment to adopt stablecoin payments for its customer base. With the backing from Circle Ventures, Flutterwave is able to natively mint and redeem USDC stablecoins for local businesses.
Before this, Ripple’s RLUSD was also integrated into Flutterwave’s stablecoin offering, signalling that the team is considering a number of stablecoins for its underlying infrastructure.
Stablecoins are continuing to enter domestic payment markets across emerging economies, especially as fintechs and PSPs realize the benefits they can provide for underlying treasury management, as well as servicing everyday product solutions.
Additionally, Flutterwave has announced that it has officially secured a national banking license from Nigeria‘s regulator, helping it to build more trust for citizens already using its products like SendApp for local and international transfers.
