Nigerian Fintech Flutterwave Secures Money Transfer Licenses in 13 US States
Expanding Global ReachThe Nigerian fintech unicorn, Flutterwave, has recently obtained money transfer licenses in 13 U.S. states. This milestone enables faster, cheaper, and more secure money transfers between the United States and Africa.
Partnership and Regulatory ApprovalFlutterwave's partnership with a licensed financial institution also allows it to serve customers in 29 U.S. states. The fintech has been working with African regulators and has received approvals from the Nigerian and Malawian central banks.
Focus on Customer NeedsAccording to Stephen Cheng, Flutterwave's executive VP for Global Expansion and Partnership, obtaining these licenses expands the company's regulatory footprint and demonstrates its commitment to delivering services with safety and soundness.
Simplifying Payments and Future PlansFlutterwave's founder and CEO, Olugbenga Agboola, emphasized that being licensed by U.S. regulators brings the fintech closer to its goal of connecting Africa to the world and vice versa by simplifying payments. The company also hopes to expand its footprint in the U.S. by securing more licenses.
This new development is a significant step for Flutterwave as it continues to make strides in the global fintech industry, providing innovative solutions for money transfers between the United States and Africa.
