Flutterwave has secured a strategic investment from Circle Ventures to expand USDC-powered payments and settlement across Africa, as the continent’s largest fintechs race to capitalize on growing demand for faster and cheaper cross-border transactions using stablecoins.
The investment, whose value was not disclosed, will enable the Nigerian-founded payments company to integrate USDC settlement directly into its existing payments infrastructure, allowing merchants to accept payments in local currencies while settling transactions in the dollar-backed stablecoin.
The deal follows Flutterwave’s participation in the launch of the Circle Payments Network in 2025 and deepens its relationship with Circle Internet Group, the issuer of USDC.
The move comes as businesses across Africa increasingly turn to stablecoins to reduce foreign exchange volatility, lower remittance costs and bypass delays associated with traditional correspondent banking networks.
“Stablecoins like USDC are no longer an experiment; they are becoming core financial infrastructure,” Flutterwave Founder and Chief Executive Officer Olugbenga “GB” Agboola said in a statement. “By embedding USDC settlement into our current payments infrastructure, we are building a system that lets businesses move money at the speed of the internet.”
Flutterwave said businesses using its platform will be able to collect payments through existing methods—including bank transfers, cards and mobile money—while settling in USDC, giving merchants greater flexibility in managing cross-border transactions and treasury operations.
The company said the infrastructure will operate within existing regulatory and compliance frameworks, enabling blockchain-based settlement without requiring businesses to overhaul their current payment systems.
Global stablecoin circulation has now surpassed $300 billion, according to Flutterwave, with Africa emerging as one of the fastest-growing markets for adoption as businesses seek alternatives to costly international payment rails.
The investment strengthens Flutterwave’s strategy of becoming a multi-rail payments platform by combining traditional payment methods with blockchain-based settlement, positioning the company to benefit from increasing institutional adoption of digital dollars across emerging markets.
Founded in 2016, Flutterwave has processed more than 1 billion transactions worth over $50 billion and operates payment infrastructure in 34 African countries. Its customers include Uber, Air Peace, Bamboo and PiggyVest, while its Send App enables remittances from the African diaspora to recipients across the continent.
The investment adds to growing institutional backing for stablecoin infrastructure globally as financial technology firms seek to modernize cross-border payments and reduce settlement times from days to near-instant transactions.