Flutterwave, a Nigerian financial technology company, is working on a new payment system that uses stablecoins.
To build this system, Flutterwave is teaming up with Polygon Labs. Polygon provides tools that enable faster, lower-cost transactions by improving how blockchain networks operate.
This partnership will allow Flutterwave to offer the service in over 30 African countries, according to a Bloomberg report on October 30.
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The new platform is expected to reduce delays and high fees that are often part of current international payment methods.
According to Flutterwave’s CEO, Olugbenga Agboola, using stablecoins could improve the flow of money across Africa. He noted that this could greatly increase the amount of money the company helps move each day.
Stablecoins are gaining popularity in Africa for several reasons. They can help protect against the depreciation of local currencies and are also becoming a useful way to send money between countries.
Many families in Africa rely on money sent from abroad, and lower transfer costs can make a big difference in their daily lives.
A 2024 report by Chainalysis showed that using stablecoins to send $200 across borders in Sub-Saharan Africa is about 60% cheaper than using traditional methods. The report also noted a rise in blockchain-based transactions in the region in March 2025.
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