Flutterwave and Polygon have teamed up to launch a stablecoin-powered payment network, revolutionizing cross-border transactions across 34 African countries.
Nigeria’s fintech giant Flutterwave has partnered with Polygon Labs to launch a blockchain-based cross-border payment network powered by stablecoins, covering 34 African countries.
According to Cointelegraph, the initiative aims to simplify and accelerate transactions using Polygon’s scalable, low-cost Ethereum infrastructure, improving settlement speed and reducing transfer fees. Flutterwave CEO Olugbenga Agboola said the move could “attract more capital into Africa” and boost transaction volumes tenfold, offering businesses and consumers a cheaper, faster alternative to traditional systems.
The project comes amid growing stablecoin adoption in Africa, where tokens like USDT and USDC help users hedge against inflation and currency volatility. A 2024 Chainalysis report found that sending $200 in remittances from sub-Saharan Africa is 60% cheaper via stablecoins than through banks or money transfer services.
With countries like Nigeria, Kenya, Ghana, and South Africa advancing clearer crypto regulations, stablecoins are fast emerging as a mainstream tool for financial inclusion and cross-border commerce.
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