It is the final day of Money 2020 taking place over in Amsterdam.
The high stakes FinTech gathering features a number of announcements that highlight the growing world of DeFi and Trafi integration.
Well, FinTech TV contributor Anastasia Kinsky is live on the ground at the event with the CEO from Flutterwave.
Hi Anastasia.
Thanks, Remy.
I'm here on the floor at Money 2020 Europe, and I have the pleasure of being joined by Olugbenga Agboola, the CEO and founder of Flutterwave, Africa's leading payments technology company.
GB, thank you so much for joining me.
Thanks for having me.
So for those of course in America and in Europe who don't necessarily know, tell us about Flutter Wave.
You're 10 years old.
What does the next 10 years of payments look like, and what is the role of Flutterwave in that?
We started 10 years ago with a vision to change our payment across Africa.
Um, now today we're the biggest fintech across the, across the continent.
We are the most licensed in about 35 across Africa right now.
We are the premier infrastructure for helping SMBs and enterprise company move money across the continent.
And our goal is still the same.
How do we make sure money movement is simple for Africans and Africa.
I mean, as a continent and as an ecosystem, Africa has like completely shown the innovation that can happen in payments when you rethink the payment structures you mentioned your licenses that microfinance banking license in Nigeria is one that you've just received.
What does that mean for the evolution of the financial system and what is Bataway's role in that?
In the last couple of years we started with becoming money in transit company.
Helping point A to point B move money across.
All right.
However, now we want to be a money at risk, part of the infrastructure that helps our merchants and clients move money seamlessly.
For a long time we relied on sponsor banks to do our business, and with our new banking bank license, we're able to now rely on ourselves to put that infrastructure, and that's a key in order to do right now.
And so you know, for some people who might look at that and think, OK, you're detaching from the traditional banks and you're competing directly.
Is that the way you see it, or is that, is it a different strategy?
We'll get there.
We're not there yet.
Phase one, replace the infrastructure, make it reliable, consistent, create value for our customers.
Step two, we'll see what happens.
I think that's fantastic, and it's such a great way to look at the ecosystem as it moves within that, of course, something we've heard so much about here at Money 2020 stablecoins.
Talk to us about your strategy with stablecoins and some of your partnerships that you've been leading with that.
Our stablecoin adventure started with looking at how money moves for our customers.
You see SMB merchants now who are saying, I want to pay my supplier in Singapore, in Europe, or in the US, and they're seeing a new trend.
They are seeing their supplier asking for stablecoin wallet address.
I can supply you real time with stablecoin compared to Swift transfer that take maybe 2 or 3 days.
So our goal really is how do we make it simple for our customers to pay their suppliers or to get paid or to move money around.
That's the whole point of Stcoin for us.
And that's why we had to go build the biggest Stablecoin infra for Africa.
We've partnered with Nuvian to build what I call A system for every African and every business to be able to have a stablecoin wallet that they can use to pay and get paid simply via our platform and as I understand it, much faster in terms of the settlements.
Oh yes, you can send money right and you get the money right now, which is such a huge, huge massive opportunity.
And listen, thank you so much for joining us.
Blasta Wave, based in Nigeria, but the biggest payments company across the African continent.
I think we're really excited for your next 10 years.
Thank you so much.
Appreciate it.
