Flutterwave partners Turnkey to roll out stablecoin wallets for users

Flutterwave has launched stablecoin balances for its merchants and users across all its products, deepening its push to build an alternative payment infrastructure that relies less on traditional banking rails and more on blockchain-based settlement.

The San Francisco-headquartered payments company said the new feature is being rolled out through a partnership with Nuvion and Turnkey, enabling users to hold and transact with stablecoins directly on the Flutterwave platform.

The move positions stablecoins as a core part of Flutterwave’s long-term strategy to support cross-border payments for African businesses operating in global markets.

Flutterwave described the launch as a step towards making digital currencies a foundational layer of Africa’s financial ecosystem, especially for international transactions where delays, high fees, and currency volatility remain persistent challenges.

Flutterwave

Abuah said the company’s stablecoin offering is designed to support multinationals, African enterprises, and individuals who need faster settlement and lower transaction costs when moving money across borders. According to Abuah, stablecoins provide an always-on payment option that reduces dependence on intermediaries and legacy banking systems.

The integration introduces embedded wallets that allow merchants to receive, store, and move stablecoins within Flutterwave’s existing infrastructure. Turnkey provides the blockchain wallet layer, while Nuvion supports the system with its AI-powered global banking and payments platform built on both fiat and stablecoin infrastructure.

Flutterwave said the solution is currently being tested with a select group of merchants to ensure reliability and performance. After this phase, approved users who have completed the required KYC and onboarding processes will be able to access USDC and USDT balances alongside existing currencies such as USD and NGN.

Turnkey CEO and co-founder Bryce Ferguson said the partnership reflects a shared belief in stablecoins as a more efficient means of moving money globally. He said the technology helps ensure that more value flows directly to business owners rather than being lost to intermediaries and processing fees.

Through Turnkey’s infrastructure, Flutterwave gains access to verifiable blockchain systems designed to support embedded wallets, automated transactions, and provable security. Turnkey is already used by a range of payments, decentralised finance, and trading platforms, including Polymarket, Axiom, Alchemy, World, and Moonshot.

Over the past year, Turnkey has expanded its offerings and industry footprint. The company was named one of the 2025 CNBC World’s Top Fintech Companies and recently launched Turnkey Verifiable Cloud in private beta, a product aimed at securing sensitive workloads through verifiable computing. It has also introduced what it describes as the world’s first verifiable wallets, added fiat onramp support via MoonPay and Coinbase, and open-sourced QuorumOS, its operating system for end-to-end verifiable infrastructure.

Flutterwave’s stablecoin launch builds on a broader shift within the company towards owning more of its payments stack.

In October 2025, Flutterwave partnered with Polygon Labs, a blockchain software firm, and made Polygon its default network for cross-border stablecoin settlements. The move signalled a clear intention to rely more heavily on blockchain networks for international payments.

Olugbenga Agboola, Flutterwave CEO

The latest partnership also follows Flutterwave’s acquisition of Mono, the Nigerian open banking startup, in 2025. The deal strengthened Flutterwave’s access to bank-level data and payment connectivity across Nigeria, while giving the company more control over how transactions are initiated, verified, and settled.

By embedding more of its infrastructure in-house, Flutterwave is gradually reducing its dependence on external banking partners and legacy payment rails. The stablecoin rollout fits into this strategy, offering an alternative settlement layer that can operate alongside traditional currencies while avoiding some of their constraints.

For African merchants and global businesses using Flutterwave, the company says the goal is simple. Enable faster payments, lower costs, and more predictable cross-border transactions in markets where access to efficient financial infrastructure remains uneven.

As stablecoins move closer to the centre of their platform, Flutterwave is betting that blockchain-based payments will play a defining role in the next phase of Africa’s digital economy.

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