Flutterwave and Polygon Team Up to Launch Stablecoin Payment Network Across 34 African Countries

• Flutterwave, Nigeria’s top fintech, partners with Polygon Labs
• Plans to launch a stablecoin-based cross-border payment system in 34 African countries
• The platform will use Polygon’s blockchain to boost speed and lower costs
• Aims to solve high fees and delays in traditional remittance systems
• Stablecoin adoption surges across Africa amid inflation and currency instability
• Remittances via stablecoins are about 60% cheaper than traditional transfers

Africa’s largest fintech company, Flutterwave, is taking a major step toward transforming payments on the continent. The Nigerian firm is partnering with Polygon Labs to develop a stablecoin-powered cross-border payment system that will connect 34 countries across Africa, according to a new report by Bloomberg.

This partnership aims to make international money transfers faster, cheaper, and more transparent by using Polygon’s blockchain network, which is built to deliver scalable and low-cost transactions on top of Ethereum. The move represents a big leap forward for Africa’s growing blockchain economy and highlights how fintech innovation is merging with decentralized finance to solve real-world challenges.

Flutterwave’s CEO, Olugbenga Agboola, said the initiative could dramatically improve financial connectivity across the continent. “Stablecoin adoption will drive more flows into Africa,” he stated, adding that the platform “has the potential to 10x the volumes we are currently doing.”

Africa’s cross-border payment landscape has long struggled with high fees, long delays, and limited banking infrastructure. Many businesses and individuals face costly remittance processes, making stablecoins an attractive alternative. By integrating Polygon’s technology, Flutterwave’s new payment network will allow users to send and receive money instantly while avoiding expensive conversion and settlement costs.

The adoption of Bitcoin and stablecoins is on the rise across Sub-Saharan Africa. Source: Cointelegraph

The project arrives as stablecoin adoption surges across Africa, especially in countries facing inflation and currency instability. Tokens like Tether (USDT) and USD Coin (USDC) have become popular tools for hedging against local currency devaluation and facilitating cheaper remittances.

A 2024 Chainalysis report found that sending a $200 remittance using stablecoins is about 60% cheaper than using traditional fiat-based services. The same report also revealed that Sub-Saharan Africa saw a spike in onchain transaction volumes in March 2025, driven mainly by Nigeria’s sharp currency devaluation. Both Bitcoin and stablecoins accounted for most of this growth, proving their importance as financial lifelines.

As crypto regulations evolve in African countries like Nigeria, Kenya, Ghana, and South Africa, projects such as Flutterwave’s are expected to accelerate mainstream adoption of blockchain-based financial tools. With stablecoins offering a reliable, fast, and affordable payment alternative, Africa could soon lead the world in real-world crypto use cases.

Final Thought

Flutterwave’s partnership with Polygon could mark a turning point for Africa’s financial ecosystem. By building a stablecoin-powered cross-border payment network, the fintech giant is positioning Africa at the forefront of blockchain innovation. If successful, this initiative could redefine remittances, empower small businesses, and connect millions across the continent with faster, cheaper financial access.