Mono plus a Nigerian microfinance banking license gives Flutterwave the missing off-chain stack: identity, account connectivity, fiat storage, and local compliance around the stablecoin leg. RLUSD gets something most issuer coins lack, a merchant/remittance distribution pipe through Send App and Flutterwave’s ecosystem, while XRPL/Ripple Payments handle settlement behind the scenes. If this works, the margin shifts from card interchange and FX spreads toward who controls liquidity, compliance, and off-ramps market by market.

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