Circle Ventures Backs Flutterwave to Embed USDC for Faster African Payments

For years, cross-border transactions in Africa relied on slow correspondent banking. Settlements took days and fees reached up to 8%. Flutterwave has now secured a strategic investment from Circle Ventures, the corporate venture arm of Circle Internet Group. Merchants can still collect funds in local currency, but settlement happens instantly in USDC at fees below one percent. This move builds on Flutterwave’s recent Series E support from Ripple and its earlier USDC and USDT integrations. With global stablecoin circulation topping $300 billion and Sub-Saharan Africa recording over $205 billion in on-chain transactions last year, Flutterwave aims to become the continent’s default digital dollar gateway.

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