New partner from Africa for Ripple: Flutterwave joins RippleNet

The RippleNet now has a network of more than 120 partners from all over the world. A new startup from Nigeria, which was able to collect a considerable amount of funding, joins RippleNet and will use the xCurrent software solution.

The Nigerian Fintech startup Flutterwave has raised USD 20 million in capital in the first financing rounds. The investors included the Ycombinator Continuity Fund, Greycroft Venture Fond, Green Visor Capital and Glynn Capital. Last year, the company also received the Innvation Award for Africa’s most innovative company.

The goal of the company is to design a unified payment solution that brings Africa to a unified level in the area of payment processing.

The company has processed $2 billion in payments with a total of 25 million transactions in over 33 different African countries. The current focus is strongly on the African continent, although the company does not rule out further expansion.

The cooperation between Ripple and Flutterwave plans to use Flutterwave’s Core API and Ripple’s xCurrent software solution to make it easier for companies worldwide to process P2P, B2B or B2C payments securely and cheaply.

In Africa many people have no access to a bank account or the possibility to send money cheaply and quickly to relatives or companies from abroad. This is exactly the problem the company wants to solve with the support of Ripple’s Blockchain technology.

The announcement of this partnership has had no impact on XRP’s price so far. The price of XRP recorded a minus of – 1.63 percent to 0.39 euros within the last 24 hours.