Circle Ventures Invests in Flutterwave to Expand USDC Settlement Across Africa

Circle Ventures, the investment arm of Circle Internet Group, has invested in Flutterwave to expand USDC payment and settlement infrastructure across Africa. The partnership aims to address high cross-border transaction costs and slow settlement times for African businesses by integrating the U.S. dollar-backed stablecoin into Flutterwave's existing payment network.

Under the arrangement, businesses can receive payments in local currencies while settling transactions in USDC, allowing for faster cross-border value movement without requiring merchants to abandon domestic payment methods. The integration is designed to reduce settlement delays and transaction costs while enabling settlement outside traditional banking windows, with Flutterwave continuing to operate within existing regulatory and compliance frameworks.