Stellar Launches New Europe-Africa Remittance Corridors

The Stellar Development Foundation (SDF) announced that Flutterwave, a global payment technology company, has launched two new remittance corridors between Europe and Africa on the Stellar network. Working with TEMPO, Flutterwave uses the Stellar and Stellar USDC network to facilitate money transfers to Africa.

The opening of these new corridors will greatly benefit businesses looking to create more efficient and cost-effective remittance services, contributing to a stronger and more inclusive pan-African digital payment infrastructure. Flutterwave plans to expand Stellar-based capabilities in additional African countries as it continues to expand the number of supported currencies.

Stellar-based companies such as Flutterwave and TEMPO are working together to create an efficient and affordable pan-African payment infrastructure, supporting SDF's mission of providing equitable access to the global financial system. Through payment corridors, Stellar is performing as a mature, viable digital alternative to the traditional and costly methods of transfer remittances.

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