Ripple news: Flutterwave joins RippleNet for Africa Payments

Nigerian Fintech startup, Flutterwave that has raised $20 million to date has announced that they have integrated with the Ripple Network to build the infrastructure for a unified payment solution that connects Africa to the world.

Founded in 2016 by Iyinoluwa Aboyeji, Flutterwave has grown to become one of the fastest growing payments companies in the world having processed $2 billion in payments and 25 million transactions across 33 African countries.

The Africa-focused startup has also attracted investments from Ycombinator Continuity Fund, Greycroft Venture Fund, Green Visor Capital, Omidyar Network, and Glynn Capital. In 2017, Flutterwave was named Africa’s best Fintech company at the Apps Africa Innovation Awards.

The Partnership

This partnership will leverage Flutterwave’s Core API disbursement engine and Ripple’s xCurrent platforms to make it easier for businesses to receive and terminate P2P, B2B, and B2C payments across Africa.

Rave, their flagship product is plugged into the Core API services that will allow small businesses and global corporations to make payments and get paid.

Why xCurrent

Ripple, the global leader in enterprise blockchain has grown its customer base to over 100 with their products xCurrent, xVia, and xRapid. xCurrent is primarily used by banks to process global payment for their customers and provides the foundation of technical connectivity for RippleNet. It is the core product for financial institutions with a real-time settlement and bi-directional messaging.

Blockmanity’s Take

Ripple is on a worldwide partnership spree with major announcements happening almost every week. Africa stands to benefit the most from this deal as it has the most unbanked people who can benefit from open banking.

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