African payments technology giant Flutterwave has announced the rollout of stablecoin balances for merchants and users on its platform, advocating for broader acceptance of regulated global payment methods. The initiative, powered by partnerships with blockchain firm Turnkey and fintech Nuvion, aims to facilitate secure cross-border commerce.
The new infrastructure will allow Flutterwave users to hold and transact in stablecoins like USDC and USDT alongside traditional fiat currencies. According to the company, this integration is designed to provide African businesses with low-cost, faster, and always-on cross-border payment solutions.
Nkem Abuah, Lead for GEPP ROW, Remittances and Stablecoin Partnerships at Flutterwave, emphasized the strategic importance of the move. “To accelerate business growth in Africa, it must be safe, easy, and affordable for businesses to accept all forms of regulated payment methods, including stablecoin, from a global customer base,” Abuah stated.
The solution features an embedded wallet system backed by Turnkey's blockchain infrastructure and Nuvion's dual-platform capabilities for fiat and stablecoin transactions. It is currently in a limited testing phase with select merchants to ensure performance and reliability before a wider launch.
Bryce Ferguson, CEO and co-founder of Turnkey, highlighted the transformative potential, saying, “Flutterwave has shown the transformative potential of stablecoins in helping people start and grow businesses globally.”
This rollout is part of Flutterwave's broader strategy to expand Africa's digital payment infrastructure, focusing on improving transaction efficiency and providing diverse, regulated payment options for enterprises and individuals.
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