News

Key Takeaways

• The company said the move is part of its “proactive approach” to align with Japan’s emerging regulatory framework for digital assets.
• Existing Japanese customers will not be affected for now, with all current services remaining operational, the exchange noted.

In a significant development leading crypto exchange Bybit has announced it will pause new user registrations in Japan starting October 31, as it adapts to new regulations from the country’s Financial Services Agency (FSA).

“There will be no immediate changes to the services available for existing Japanese users at this stage. Bybit will provide further updates should any additional measures be introduced in the future,” Bybit said in the statement. The exchange stressed that the measure applies to new registrations by Japanese residents and nationals. 

The company said the move is part of its “proactive approach” to align with Japan’s emerging regulatory framework for digital assets. “It has always been Bybit’s commitment to operate responsibly and in compliance with local laws and regulatory expectations,” the exchange said.

In its statement, the company also apologised for any inconvenience to Japanese users and thanked the users for their “understanding and continued support.”

Existing Japanese customers will not be affected for now, with all current services remaining operational, the exchange noted. Bybit said it will share further updates as discussions with regulators progress.

Last week, it was reported that the FSA is considering regulatory reforms that would allow banks to acquire and hold cryptocurrencies such as Bitcoin and operate licensed crypto exchanges. The proposal will be reviewed at an upcoming Financial Services Council meeting, with the aim of aligning digital assets with traditional instruments like stocks and government bonds.

Japan’s Financial Services Agency (FSA) is steering crypto oversight toward the Financial Instruments and Exchange Act (FIEA), which raises custody and disclosure standards. In August, FSA proposed a “Crypto Assets and Innovation Division” to supervise the digital asset sector better.

Bybit is a giant in the digital asset space as it is the world’s second-largest cryptocurrency exchange by trading volume

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• Flutterwave has partnered with Polygon to enable fast, low-cost stablecoin payments.
• Pilot is scheduled to start before the end of 2025, expanding to consumers via the Send App in 2026.
• Verified merchants will benefit first, ensuring compliance and smooth adoption.

Flutterwave, one of Africa’s largest financial infrastructure providers, has announced a partnership with Polygon Labs to leverage blockchain technology for cross-border payments.

Fresh off the thrill of @money2020, we’re teaming up with @0xPolygon to make cross-border payments faster, cheaper & more accessible than ever!

With Polygon Proof of Stake (PoS) powering our new solution, businesses and individuals will soon be able to move money across borders… pic.twitter.com/7vmr88zy8e

— Flutterwave (@theflutterwave) October 30, 2025

Stablecoins at the heart of the partnership

Under the multi-year collaboration, Polygon will become Flutterwave’s default blockchain network, powering a new cross-border payments product designed around stablecoins.

These digital currencies, pegged to traditional fiat currencies like the US dollar, are expected to streamline international payments by reducing the inefficiencies that have long plagued Africa’s $2 trillion cross-border market.

For many businesses, settlement can take several days, and fees often exceed 8%, creating significant operational challenges.

Flutterwave plans to pilot the new system in 2025 with a select group of verified merchants, before rolling it out more broadly to enterprises and consumers through its Send App in 2026.

The initial rollout will prioritise global corporations such as Uber and Audiomack, which already rely on Flutterwave’s existing payment infrastructure, while subsequent phases aim to bring the benefits of blockchain-powered stablecoins to millions of everyday users.

The partnership also positions Africa alongside other regions where Polygon is already enabling major fintech innovations, including Europe and Asia.

With over a hundred fintech companies globally using Polygon to move money efficiently, Flutterwave’s adoption of the network demonstrates the continent’s growing embrace of blockchain technology for real-world commerce.

For Flutterwave, this initiative represents more than a technological upgrade; it aligns with the company’s broader mission to simplify international payments for African businesses.

CEO Olugbenga “GB” Agboola explained that by making cross-border transactions faster, cheaper, and more accessible, the collaboration sets a new standard for financial inclusion while providing a scalable solution for global commerce.

Faster, cheaper cross-border payments

By integrating Polygon’s high-performance blockchain, Flutterwave aims to cut both costs and settlement times dramatically.

Transaction fees on Polygon are typically fractions of a cent, and settlements can occur in near real-time.

Marc Boiron, CEO of Polygon Labs, highlighted the significance of this development, noting that stablecoins on Polygon can transform settlement periods from days into seconds and reduce fees from percentages into mere pennies.

This partnership not only reduces operational friction but also strengthens financial inclusion by making cross-border payments affordable and reliable.

For small merchants in Lagos, Nairobi, or Johannesburg, as well as individuals sending remittances, the technology promises to make previously cumbersome financial processes simpler and faster.

Regulatory compliance

Flutterwave is taking a cautious approach to regulatory compliance, initially limiting the stablecoin service to verified merchants who meet enhanced Know Your Customer (KYC) and Know Your Business (KYB) standards.

Vincent Yang, Flutterwave’s Senior Product Manager for Stablecoins and Cryptocurrency, emphasised that the company is working closely with regulators to ensure that the service launches only in markets with appropriate regulatory support.

The integration is designed to be seamless for merchants, requiring no technical changes to Flutterwave’s existing API.

This approach allows businesses to access the new payment options without disruption, embedding blockchain capabilities into familiar systems rather than replacing them entirely.

The post African payment giant Flutterwave taps Polygon blockchain for cross-border payments appeared first on CoinJournal.

• Flutterwave has partnered with Polygon to enable fast, low-cost stablecoin payments.
• Pilot is scheduled to start before the end of 2025, expanding to consumers via the Send App in 2026.
• Verified merchants will benefit first, ensuring compliance and smooth adoption.

Flutterwave, one of Africa’s largest financial infrastructure providers, has announced a partnership with Polygon Labs to leverage blockchain technology for cross-border payments.

Fresh off the thrill of @money2020, we’re teaming up with @0xPolygon to make cross-border payments faster, cheaper & more accessible than ever!

With Polygon Proof of Stake (PoS) powering our new solution, businesses and individuals will soon be able to move money across borders… pic.twitter.com/7vmr88zy8e

— Flutterwave (@theflutterwave) October 30, 2025

Stablecoins at the heart of the partnership

Under the multi-year collaboration, Polygon will become Flutterwave’s default blockchain network, powering a new cross-border payments product designed around stablecoins.

These digital currencies, pegged to traditional fiat currencies like the US dollar, are expected to streamline international payments by reducing the inefficiencies that have long plagued Africa’s $2 trillion cross-border market.

For many businesses, settlement can take several days, and fees often exceed 8%, creating significant operational challenges.

Flutterwave plans to pilot the new system in 2025 with a select group of verified merchants, before rolling it out more broadly to enterprises and consumers through its Send App in 2026.

The initial rollout will prioritise global corporations such as Uber and Audiomack, which already rely on Flutterwave’s existing payment infrastructure, while subsequent phases aim to bring the benefits of blockchain-powered stablecoins to millions of everyday users.

The partnership also positions Africa alongside other regions where Polygon is already enabling major fintech innovations, including Europe and Asia.

With over a hundred fintech companies globally using Polygon to move money efficiently, Flutterwave’s adoption of the network demonstrates the continent’s growing embrace of blockchain technology for real-world commerce.

For Flutterwave, this initiative represents more than a technological upgrade; it aligns with the company’s broader mission to simplify international payments for African businesses.

CEO Olugbenga “GB” Agboola explained that by making cross-border transactions faster, cheaper, and more accessible, the collaboration sets a new standard for financial inclusion while providing a scalable solution for global commerce.

Faster, cheaper cross-border payments

By integrating Polygon’s high-performance blockchain, Flutterwave aims to cut both costs and settlement times dramatically.

Transaction fees on Polygon are typically fractions of a cent, and settlements can occur in near real-time.

Marc Boiron, CEO of Polygon Labs, highlighted the significance of this development, noting that stablecoins on Polygon can transform settlement periods from days into seconds and reduce fees from percentages into mere pennies.

This partnership not only reduces operational friction but also strengthens financial inclusion by making cross-border payments affordable and reliable.

For small merchants in Lagos, Nairobi, or Johannesburg, as well as individuals sending remittances, the technology promises to make previously cumbersome financial processes simpler and faster.

Regulatory compliance

Flutterwave is taking a cautious approach to regulatory compliance, initially limiting the stablecoin service to verified merchants who meet enhanced Know Your Customer (KYC) and Know Your Business (KYB) standards.

Vincent Yang, Flutterwave’s Senior Product Manager for Stablecoins and Cryptocurrency, emphasised that the company is working closely with regulators to ensure that the service launches only in markets with appropriate regulatory support.

The integration is designed to be seamless for merchants, requiring no technical changes to Flutterwave’s existing API.

This approach allows businesses to access the new payment options without disruption, embedding blockchain capabilities into familiar systems rather than replacing them entirely.

The post African payment giant Flutterwave taps Polygon blockchain for cross-border payments appeared first on CoinJournal.