African fintech firm Flutterwave has announced a multi-year partnership with Polygon Labs, selecting the Polygon PoS network as the primary blockchain for its new cross-border payment product. The collaboration aims to streamline transactions for businesses and individuals across the continent.

By integrating Polygon’s infrastructure and stablecoin settlement capabilities, Flutterwave intends to drastically reduce settlement times from days to mere seconds while cutting transaction fees to a fraction of a cent. This move targets major inefficiencies in the $2 trillion global cross-border payments market. Polygon CEO Marc Boiron highlighted the potential, stating that stablecoins on the network can turn settlement days into seconds.

The new service will support major Flutterwave clients like Uber and Audiomack, leveraging the company’s existing network, which has processed over $40 billion in transactions across more than 30 African countries and 150 currencies.

The rollout is scheduled to begin with a pilot program for select business customers in 2025. Full availability for all business clients and users of the Send App is planned for 2026, with the integration phased in regionally where permitted by local laws.

Digital money platform Uphold is entering the crypto-lending space with a new service that will allow users to borrow against their digital assets. The program will initially support XRP, Bitcoin (BTC), Ethereum (ETH), and USDC, with a launch planned for Florida in December.

The service is designed to provide users with liquidity without forcing them to sell their crypto holdings. A key feature of these loans is that they don’t require traditional credit checks, as the digital assets themselves serve as collateral. According to the announcement, customers will also have the opportunity to earn a yield through the platform.

A Growing Market for Crypto Lending

Uphold’s entry into this market is part of a broader industry trend where both centralized and decentralized finance platforms are offering crypto-backed loans. The company joins a competitive field that includes established players like Binance, Coinbase, Ledn, and Nexo.

The expansion of these services highlights the increasing use of digital assets as collateral, a practice that is becoming more mainstream. As crypto-lending blurs the lines between traditional and digital finance, it makes sophisticated financial tools more accessible to a wider range of investors.