Flutterwave, Nigerian payments giant has crossed a new strategic step in its mission to simplify payments internationals. By partnering with Polygon Labs, the company announces that the Polygon blockchain will become its default network for transactions in stablecoins, starting with USDC, issued by Circle.

Nigerian fintech Flutterwave has partnered with Polygon Labs to deploy a cross-border payment network powered by stablecoins and covering 34 African countries, according to Bloomberg. Flutterwave CEO Olugbenga Agboola said that the initiative could increase the company's payment volumes tenfold, because it bypasses traditional banking intermediaries. The network will rely on stablecoins such as USDT and USDC, which play a role growing in remittances and commercial payments in Africa.

This partnership comes as the adoption of the Blockchain is accelerating in Africa, under the effect of inflationary pressures and currency devaluations, especially in Nigeria. flutterwave a has already joined the Circle Payment Network and partnered with Hedera to enable the USDC regulations, thus signaling a strategic shift towards a blockchain-based infrastructure.