Flutterwave and Polygon Labs are joining forces. They will simplify cross-border payments.
African payment leader Flutterwave announced a new partnership. The company chose Polygon Labs for the deal. Polygon PoS is now Flutterwave’s default blockchain. It will power a new cross-border payment product. This multi-year deal is a major update. It represents the largest stablecoin deployment in emerging markets.
The partnership targets major payment problems. Businesses in Africa face high costs. They also suffer from slow settlement times. This new system uses blockchain technology. It will use stablecoins for transfers. This makes payments instant. It also makes them very low-cost.
Polygon’s network offers sub-$0.01 transaction fees. This is a large improvement. Traditional settlements can take days. Fees often exceed eight percent. This collaboration changes that.
What are stablecoins? They are a special type of digital currency. Their value is tied to a real-world asset. This asset is usually a fiat currency, like the U.S. dollar. This link keeps the price stable. It avoids the volatility of other cryptocurrencies. Therefore, stablecoins are ideal for payments. They act as a reliable bridge. They connect traditional finance and digital finance.
Olugbenga “GB” Agboola is the CEO of Flutterwave. He commented on the partnership. “Businesses in emerging economies process billions,” Agboola said. “Yet, [they] still face high costs and slow settlement times.” He explained the new solution. “By partnering with Polygon, we’re introducing a solution.” This solution makes international payments simple. It also makes them affordable.
Flutterwave will roll out the system in phases. A pilot program begins in 2025. This pilot is for select “Flutterwave for Business” customers. After that, a full rollout follows in 2026. This will include all business users. It also includes users of Flutterwave’s Send App. The system will operate across 30+ African countries. Flutterwave supports 150 currencies in this region.
This move will help major companies. Global clients like Uber and Audiomack use Flutterwave. They will benefit from the improved system. The partnership focuses first on enterprise clients. These large firms will get stablecoin rails. This dramatically cuts settlement times. Subsequently, the service will expand. It will soon cover consumer remittances. This helps millions of individuals.
Marc Boiron is the CEO of Polygon Labs. He stressed the technology’s impact. “Thriving African businesses lose revenue each year,” Boiron stated. This is due to “slow, expensive cross-border payments.” He praised the collaboration. “Flutterwave saw what we see.” Boiron explained the benefit. “Stablecoins on Polygon can advance settlement times from days to seconds, and high fees into pennies.”
This deal solves real-world challenges. The global cross-border market is $2 trillion. This partnership creates a new blueprint. It shows how blockchain can help digital economies. Polygon’s technology is already proven. It powers many other financial applications. Now, it joins Flutterwave. They are setting a new global benchmark.
Key Statistics
Market: $2 trillion global cross-border payments.
Old Fees: Often exceed 8%.
Old Settlement: Takes several days.
New Fees: Sub-$0.01 (on Polygon).
New Settlement: Near-instant.
Reach: 30+ African countries, 150+ currencie
