Polygon to Power Flutterwave's Cross-Border Payments in Africa

Flutterwave, a significant payment provider in Africa, has partnered with Polygon Labs to enhance cross-border payments, making them faster and cheaper through blockchain technology. The partnership will integrate Polygon's network as the foundation of Flutterwave's new stablecoin-based payment system. The initial rollout will involve multinational business clients including Uber, starting later this year, with consumer remittances expected to follow in 2026. Currently, cross-border payments in Africa are plagued by high fees, averaging over 8%, causing delays that can hinder business operations. Flutterwave's CEO Olugbenga Agboola highlighted that this collaboration aims to simplify international payments, making them more affordable than local transactions. The project marks a significant deployment of stablecoins in emerging markets, as businesses in these regions face billions in cross-border payment costs annually. This move reflects a growing trend where financial entities leverage stablecoins to address payment inefficiencies.

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