Flutterwave Plans Pan-African Crossborder Payments in Stablecoin

Nigerian financial-technology firm Flutterwave Inc. plans to allow payments on its platform using stablecoins – digital tokens pegged to the dollar — as businesses seek to bypass traditional providers that are slower and more expensive.

The Lagos-based firm, which operates in 34 countries in Africa, plans to introduce a new cross-border payment product for business customers this year and is partnering US-based Polygon Labs, which develops the software used to make such transactions more efficient.

Olugbenga Agboola

Photographer: Kent Nishimura/Bloomberg

Flutterwave Chief Executive Officer Olugbenga Agboola said that stablecoin is witnessing rapid growth globally and his company “wants to ensure that when those ...