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Tuesday, October 4, 2022

Stellar Ecosystem Partners with Flutterwave to Launch Europe-Africa Payment Corridor

An open network for digital currency, Stellar Lumen, also known as the Stellar Development Foundation, announces its partnership with a global payment technology company called the Flutterwave to bring their New Europe-Africa Payment into Africa.

Flutterwave company will be using the USDC stable coin on the Stellar Foundation network to clarify payment between the African continent and Europe.

Based on the information, the Flutterwave Company will be working side by side with the Stellar Foundation principle EU payments partner, the Paris-based money transfer operator, and Tempo Payment.

Flutterwave CEO Olugbenga Agboola says that partnering with Stellar Development Foundation to launch the new technology will create a cost-effective money transfer medium in Sub-Saharan Africa.

Still, on the views of the staff on the business partnership, the executive director and the CEO of the Stellar Foundation, Denelle Dixon, stated that the partnership would mark a further step to harness the power of technology in Africa.

Again, it will make financial services more relevant and cheap for low-income earners in Africa, Europe, and other parts of the world. 

In Denelle’s exact words, “Flutterwave is doing important work in a region that has been historically underserved, and SDF is now committed to helping them create a tangible impact on financial access and inclusion over the African continent and beyond.”

Again, Tempo CEO Suren Ayriyan discloses how they are happy to partner with Flutterwave to extend their service ecosystem into Africa using the Stellar Development Foundation rails.

Suren Ayriyan expresses himself, saying that customers across Europe will be able to send funds faster. 

It will also reduce the cost to help their families, carry out business in Africa, and bring money into their local bank account. 

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