Stellar To Launch New Europe-Africa Payment Corridor With This Partner

The Stellar ecosystem continues to expand. Today they have announced a partnership with global payments company Flutterwave to launch two new payment corridors between Europe and Africa. Related Reading | How Stellar’s $40M Investment In Tala Will Give Millions Access To Financial Services To be supported by the Stellar network with their main EU anchor TEMPO, a payment institution that offers its services for the corporate sector, the corridors will process transactions with USDC. In that way, the partners seek to provide a simplified way of sending remittances between the two continents. Thus, the collaboration could create a positive impact throughout the African region as it provides businesses with friction and accessible digital payment method. To achieve this objective, the XLM-based companies Flutterwave and TEMPO will create an “affordable Pan-African payments infrastructure”. In doing so, the partners expect to gain more adoption and acceptance as an alternative payment system as opposed to the more expensive and restricted payment companies in the traditional sector. The CEO at Flutterware Olugbenga Agboola claimed in a press release shared by the Stellar Development Foundation (SDF) that sending money to the Sub-Saharan region is one of the most expensive processes worldwide. Related Reading | Stellar Leads Crypto Gains as XLM Rallies by 49%; Pullback Ahead? In that sense, their partnership with the SDF t...