The Stellar Development Foundation (SDF) announced that Flutterwave, a global payments technology company, has launched two new remittance corridors between Europe and Africa on the Stellar network. Working with TEMPO, Flutterwave is leveraging the Stellar network and Stellar USDC to simplify remittances in Africa. Opening these new corridors will greatly benefit businesses focused on building more efficient, cost-effective remittance services, contributing to a stronger, more inclusive Pan-African digital payments infrastructure. Flutterwave plans to extend Stellar-based capabilities to additional African countries as it continues to grow the number of currencies it supports.
Connecting Stellar-based businesses like Flutterwave and TEMPO — which also has a significant, complementary user base in Africa — creates an efficient and affordable Pan-African payments infrastructure, supporting the Stellar Development Foundation’s mission to create equitable access to the global financial system. With these payment rails in place, Stellar continues to establish itself as a mature, viable digital alternative to traditionally lengthy and expensive methods for sending remittances. This partnership marks a further step in our efforts to harness the power of technology to make financial services more inclusive and affordable for underbanked individuals worldwide.