Flutterwave has secured a national micro-lending license in Nigeria, marking a major step in its push deeper into core financial services.

The approval allows the fintech giant to move beyond payments and begin offering services traditionally handled by banks including holding customer deposits, issuing accounts, and providing loans.

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Previously, many of these services were delivered through partner banks. With this new license, Flutterwave can now operate more independently, capturing more value within its ecosystem and directly competing with traditional lenders.

The move aligns Flutterwave with global fintech players, like Revolut and Wise, which have also pursued banking-style licenses to expand their offerings and scale faster. The move has also included adding regulated virtual assets as part of their offerings.

For Nigeria, the development signals continued convergence between fintechs and banks where payment platforms are increasingly evolving into full-service financial institutions.

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