Nigeria’s fintech unicorn, Flutterwave, has joined the Circle Payments Network (CPN) to facilitate cross-border payments across the globe leveraging stablecoins..
Flutterwave joins the network alongside crypto exchange Yellow Card and 25 other payment platforms across the globe.
Circle Payments Network? Launched by Circle Internet Group, the issuers of the USDC stablecoin, CPN connects banks, neobanks, payment service providers, virtual asset firms, and digital wallets worldwide and allows for real-time settlement of cross-border payments using regulated stablecoins.
Why does CPN matter? Despite years of reform, cross-border payments are still slow and costly. Sometimes transactions take over a day to settle, and fees average above 6%, according to the World Bank. This friction, which mostly comes from intermediaries, compliance checks, time zone mismatches, and legacy infrastructure, makes stablecoins a faster, cheaper alternative. CPN’s pitch is to make transaction near instant using stablecoins.
The network leverages USDC, EURC, and other regulated digital currencies for real-time payments and supports third-party developers building apps and financial workflows on top of the network.
The CPN is a great boost for Flutterwave’s cross-border product, Send. Through USDC and EURC, Flutterwave can reduce settlement timelines for its enterprise merchants who move bulk money at scale. The fintech will also be able to help small businesses across the continent pay international vendors and suppliers almost instantly.
