Africa’s largest payments infrastructure company, Flutterwave, is partnering with Polygon Labs in a multi-year deal to power instant, low-cost cross-border payments across 30+ African countries.
The partnership will make Polygon the primary blockchain network for Flutterwave’s new cross-border payments product — marking what both companies call the largest real-world stablecoin deployment in emerging markets.
Why It Matters:
Cross-border transactions in Africa are notoriously slow and expensive, often taking days and costing businesses up to 8% in fees.
By leveraging Polygon’s blockchain infrastructure — known for sub-$0.01 transaction fees and near-instant settlement — Flutterwave aims to cut settlement times from days to seconds and make remittances significantly cheaper.
The Details:
- Pilot Phase: Begins in 2025 for select Flutterwave for Business customers.
- Full Rollout: Expected in 2026 for all Flutterwave for Business and Send App users.
- Clients Impacted: Global multinationals like Uber and Audiomack that rely on Flutterwave for payments across Africa.
- Transaction Impact: Builds on Flutterwave’s track record of $40B+ processed to date.
What They’re Saying
“Stablecoins on Polygon can advance settlement times from days to seconds, and high fees into pennies,” said Marc Boiron, CEO of Polygon Labs. “It’s a massive vote of confidence in stablecoins as the future of cross-border payments.”
“By partnering with Polygon, we’re introducing a solution that makes international payments even more simple and affordable than many local ones,” said Olugbenga ‘GB’ Agboola, Flutterwave’s CEO. “This revolution will unlock new economic opportunities across the continent.”
Between the Lines
The partnership directly addresses pain points in the $2 trillion global cross-border payments market, especially in regions where traditional banking infrastructure lags behind digital innovation.
It could also set a blueprint for stablecoin adoption in Africa — showcasing how blockchain can solve real-world payment challenges at scale.
Context
Polygon has been strengthening its presence in institutional finance, recently:
- Processed half of all USDC transfers between $100–$1,000 in the U.S.
- Powered BlackRock’s $1B BUIDL Fund tokenization via Securitize.
- Supported Polymarket, now valued at $8B after a $2B investment from ICE.
