Flutterwave Expands Money Transfer Services
Nigerian fintech company, Flutterwave, has announced that it has obtained money transfer licenses in 13 U.S. states. This allows Flutterwave users to benefit from faster, cheaper, and more secure money transfers between the United States and Africa. Furthermore, Flutterwave’s partnership with a licensed financial institution enables it to serve customers in 29 states across the U.S.
Benefits for Flutterwave Users
According to a recent statement from Flutterwave, the obtained licenses not only enhance its sending application but also benefit enterprises that use its platform for global last-mile payouts. Stephen Cheng, the executive VP for Global Expansion and Partnership, emphasized that these licenses demonstrate the fintech’s ability to provide safe and reliable services while fostering trust among regulators, partners, and customers.
Flutterwave’s Goal to Connect Africa and the World
Flutterwave’s founder and CEO, Olugbenga Agboola, expressed that obtaining licenses from U.S. regulators brings the company one step closer to its mission of simplifying payments and connecting Africa with the rest of the world. Agboola also revealed that Flutterwave aims to expand its presence in the U.S. by acquiring more licenses. Apart from U.S. approvals, Flutterwave has also received authorizations from the Nigerian and Malawian central banks.
Hot Take: Flutterwave Empowers African Diaspora with Money Transfer Services
Flutterwave’s recent acquisition of money transfer licenses in 13 U.S. states and its partnership with a licensed financial institution signify significant progress in its goal to serve the needs of the African diaspora. These licenses enable Flutterwave users to enjoy faster, cheaper, and more secure money transfers between the United States and Africa, while also benefiting enterprises that use Flutterwave’s platform for global payouts. With its commitment to expanding its regulatory footprint and fostering trust, Flutterwave is simplifying payments and creating connections between Africa and the world.