Flutterwave is Nigeria’s largest fintech company. According to Bloomberg, the company is in the process of building a new cross-border payment platform. In addition, this platform is strongly supported by modern stablecoins. As a result, blockchain is truly gaining traction according to the project. Indeed, vital payments throughout the continent are being streamlined by the technology.
Blockchain Solution Targets Enterprise Payment Flows
The Lagos-based firm has a presence in 34 countries. As a result, it is cooperating with Polygon Labs of the United States. In addition, Polygon creates software for really efficient transactions. In addition, its infrastructure is based on Ethereum. Therefore, this powerful integration will improve the settlement speed. As a result, it is efficient for Flutterwave’s network as a whole. Ultimately, stablecoins are the key enabler for this change and its future success.
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The solution is first implemented in phases. Therefore, the first phase is aimed at all enterprise customers. As a result, a new cross-border payment product is coming live. For example, large international companies will successfully profit from it. Thus, they are able to utilize stablecoin rails. This leads to significantly less settlement times. Instead, transactions go down to seconds from days.
For example, Marc Boiron, CEO of Polygon Labs, was invited to speak. Indeed, he was very insistent on the potential of the partnership. As such, African businesses continue to lose revenue every year. This is due to slow and costly international payments. Therefore, Flutterwave clearly understood the vision of Polygon. Also, Polygon stablecoins transfer high fees into pennies. This is ultimately a very large vote of confidence.
As a result, the alliance immediately responds to critical pain points. In addition, the huge cross-border payments market is worth $2 trillion. Indeed, emerging economies are those with the largest transaction costs. In particular, remittance fees are often more than eight percent. However, Polygon’s sub-$0.01 transactions fees are one of its standout features. Thus, almost instantaneous settlement is now possible. Therefore, Flutterwave will be able to provide better economics to all of its customers.
Consumer Remittance Expansion Faces Regulatory Hurdles
In the future, the focus will be shifted drastically towards all consumers. As a result, the partnership is in a good position to grow remittance flows. Specifically, this is done via Flutterwave Send App. As a result, millions of users will have inexpensive, instant, cross-border payments. Thus, the complete solution will be available by 2026. Ultimately, this is also likely to considerably increase continental remittances.
Furthermore, the strategic vision was also confirmed by the CEO, Olugbenga Agboola. However, billions of dollars in payments are made every year in emerging economies. Hence, they do not recover from slow settlement times. Moreover, Agboola said, “We are launching a solution that simplifies international payments.” In addition, the system will have a lower cost than many local ones. Thus, this considerably opens new economic opportunities.
Therefore, the new payment option is integrated directly into Flutterwave’s current API. As a result, merchants will not require technical changes to easily access it. Also, Polygon’s Aishwary Gupta discussed the current world order. In fact, he pointed out that this puts Africa on the same pedestal as Europe and Asia.
Finally, regulatory clarity remains an issue. However, stablecoins have been a huge topic in 2025. Although they change transactions, there is still a problem with regulation. In particular, the SEC in Nigeria has made some very positive steps. Thus, they are trying to correctly regulate crypto assets. Hence, there is a lot more work that is expected to be done in the whole continent.
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Author: NixCoin