Stablecoin RLUSD, backed by the US dollar, makes its entrance in Africa through Ripple.
Ripple's enterprise-grade, USD-backed stablecoin, RLUSD, has been making waves in the financial industry since its launch in late 2024. Backed by Ripple's years of experience in both crypto and traditional finance, RLUSD has surpassed $700 million in market capitalization, demonstrating strong global adoption.
The stablecoin, which is centred around trust, utility, and compliance, is being utilised in various enterprise financial use cases. These include facilitating instant settlement of cross-border payments, accessing liquidity for remittance and treasury operations, integrating with DeFi protocols, bridging between fiat currencies and the crypto ecosystem, and providing collateralization for trading tokenized real-world assets.
RLUSD is now available globally through top-tier partners such as Bitso, Bitstamp, Bullish, CoinMENA, Independent Reserve, Gemini, Kraken, Mercado Bitcoin, and Uphold. This global reach is further bolstered by strategic partnerships with key institutions.
Chipper Cash, the largest crypto exchange in Africa, has expressed interest in making RLUSD available to their clients as soon as possible. Ham Serunjogi, Chipper Cash's Co-Founder & CEO, highlighted the potential for driving institutional use of blockchain technology across Africa and global markets.
VALR, another major crypto exchange, has listed RLUSD, citing a commitment to providing compliant and high-quality digital assets. This move aligns with VALR's broader strategy to support trusted stablecoin options for both institutional and retail clients.
Ripple, the digital asset infrastructure provider for financial institutions, is also partnering with Yellow Card and Yellow Card's CEO, Chris Maurice, emphasises the importance of RLUSD in providing reliable digital assets for secure cross-border payments and treasury management.
In Africa, RLUSD is being used in pilot projects led by Mercy Corps Ventures (MCV) in Kenya, serving as drought insurance for farmers and a parametric rainfall insurance solution. Additionally, RLUSD is being used in extreme weather event relief pilot projects, specifically for drought insurance and parametric rainfall insurance solutions.
Looking ahead, SBI VC Trade, a subsidiary of SBI Holdings, is set to distribute RLUSD in Asia, specifically Japan, with availability planned for the first quarter of 2026.
Ripple recently enabled RLUSD in Ripple Payments, extending the breadth of stablecoins available in their cross-border payments solution. Moreover, RLUSD is backed by an NYDFS-issued New York limited purpose trust company, emphasising regulatory rigor and credibility.
In summary, RLUSD, Ripple's USD-backed stablecoin, is rapidly gaining traction across global markets. Its versatility, regulatory compliance, and strategic partnerships make it a promising contender in the stablecoin landscape.
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