Ripple Expands RLUSD Stablecoin into African Markets
- Ripple introduces its US dollar-backed stablecoin, RLUSD, to Africa through partnerships with fintech firms Chipper Cash, VALR, and Yellow Card.
- The stablecoin debuted in late 2024 and has achieved a market capitalization of approximately $710 million.
- RLUSD is listed on exchanges like Gemini, Kraken, Bitso, and more, facilitating institutional use for payments and collateral management.
- On-chain activity shows monthly transaction volumes increased from $120 million in July to $194 million in August.
- Mercy Corps Ventures pilots RLUSD in Kenya for blockchain-based insurance products addressing climate risks.
Ripple’s strategic partnerships enable RLUSD to penetrate the African market efficiently by leveraging existing fintech networks without building new consumer trust from scratch. The stablecoin’s growing exchange listings aim to enhance its utility for institutions across payment and collateral markets.
Despite its promising start with a significant market cap and rising transaction volumes, RLUSD still trails behind leading stablecoins in liquidity and daily flows. (Source)
