Flutterwave, Africa's largest payments company, unveiled a partnership with Tempo, a blockchain network supported by Stripe and Paradigm, to address expensive and slow cross-border money transfers across the continent. The collaboration introduces stablecoin-powered infrastructure for international payments into and within Africa. World Bank data shows remittance fees to Sub-Saharan Africa remain close to 7%, exceeding the global average and the United Nations Sustainable Development Goal target of 3%.
Flutterwave Integrates Tempo Blockchain Into Send App and Business Platform
Tempo's layer-1 blockchain network will be integrated into two Flutterwave flagship products: Send App, a remittance platform serving African users in the United States, United Kingdom, Canada, and the European Union, and Flutterwave for Business, the company's enterprise-focused payment solution. These platforms handle billions of dollars in transaction volume every year. Traditional international payment systems rely on correspondent banking networks that can take several business days to complete settlements. The partnership deploys stablecoin-based payment rails to lower transaction costs and accelerate settlement times for cross-border transfers involving Africa.
Tempo Network Expands Stablecoin Payment Corridors With USDC and USDT
Flutterwave already utilizes a stablecoin payment infrastructure built on Polygon. The addition of Tempo's network expands access to new payment corridors where existing transfer options remain costly or inefficient. The integration will support wallet-to-wallet transfers using USDC and USDT, the two most widely adopted dollar-backed stablecoins. Tempo's blockchain has been designed for high-volume transaction environments and supports ISO 20022 messaging standards, a framework widely used by banks and financial institutions for cross-border payment processing and reconciliation. The system allows enterprise clients to connect stablecoin settlements directly with existing financial and ERP platforms without requiring complex custom integrations.
Flutterwave CEO Agboola and Tempo's Romero Outline Partnership Vision
Flutterwave Founder and Chief Executive Officer Olugbenga Agboola explained that the company views the partnership as part of a broader strategy to modernize global payment infrastructure. He indicated that the goal is to build a compliant, scalable system capable of supporting real-time global commerce while reducing inefficiencies in payment flows. Tempo's Head of Go-to-Market, Dan Romero, highlighted that payment corridors serving Africa have historically depended on expensive and slow fiat-based systems. He noted that the partnership would help bring stablecoin settlement capabilities into production through Flutterwave's extensive payment network.
Visa, Nubank, Shopify Explore Tempo Network for Stablecoin Services
Several major companies, including Visa, Nubank, and Shopify, have already begun exploring or building services on Tempo's network, while Stripe has expanded its involvement in stablecoin-powered payout solutions. The infrastructure is still under development, with deployment initially planned for selected payment corridors and no official timeline announced for full implementation. Regulatory differences across African markets and challenges related to dollar liquidity remain important factors that could influence adoption.
FAQ
What did Flutterwave announce in its partnership with Tempo?
Flutterwave announced a partnership with Tempo, a blockchain network supported by Stripe and Paradigm, to integrate stablecoin-powered infrastructure into its Send App and Flutterwave for Business platforms for cross-border payments in Africa.
Why are remittance fees to Sub-Saharan Africa higher than the UN target?
World Bank data shows remittance fees to Sub-Saharan Africa remain close to 7%, exceeding the United Nations Sustainable Development Goal target of 3%, due to reliance on expensive correspondent banking networks that take several business days to complete settlements.
Which stablecoins will Flutterwave support through the Tempo integration?
The integration will support wallet-to-wallet transfers using USDC and USDT, the two most widely adopted dollar-backed stablecoins, on Tempo's layer-1 blockchain network that supports ISO 20022 messaging standards.
