Nigerian fintech plans African stablecoin payment system with Polygon: Report
Flutterwave partners with Polygon Labs to launch a stablecoin-powered cross-border payments network spanning 34 countries across Africa.
Flutterwave, Nigeria’s largest fintech company, is developing a cross-border payment platform powered by stablecoins, highlighting the growing role of blockchain technology in streamlining payments across Africa.
The company is partnering with Polygon Labs to launch the service across its 34-country network, Bloomberg reported Thursday. Polygon’s blockchain infrastructure, built to provide scalable, faster and cheaper transactions on Ethereum, will be used to enhance settlement speed and efficiency.
Flutterwave CEO Olugbenga Agboola said the move could transform the flow of funds across the continent, enabling businesses and consumers to bypass the high costs and delays that often plague traditional payment systems.