Ripple announced plans to introduce its U.S. dollar–backed stablecoin, RLUSD, to new markets in Africa. This builds on its strategy to penetrate global markets.
Ripple Brings $700M RLUSD to Africa
In a recent press release, Ripple confirmed that RLUSD will be made available to financial institutions and enterprises across Africa. The stablecoin would be integrated through collaborations with Chipper Cash, VALR, and Yellow Card.
Since its late 2024 launch, the stablecoin has amassed a market valuation of more than $700 million. Due to its enterprise-grade financial utility and compliance-first design, the coin has gained popularity.
Jack McDonald, Ripple’s Senior Vice President of Stablecoins, said the new rollout builds on growing demand for the stablecoin in global financial markets.
“We’re seeing strong adoption for RLUSD in payments, tokenization, and collateralized trading,” he explained. “Expanding into Africa with local partners helps us meet the needs of one of the fastest-growing regions for digital payments,” he noted.
Chipper Cash, one of Africa’s most widely used fintech platforms, also highlighted the benefits of making the stablecoin accessible to its clients. CEO Ham Serunjogi described the stablecoin as a tool to accelerate cost-efficient cross-border transactions across the continent.
Furthermore, VALR, Africa’s largest crypto exchange, confirmed its support, with co-founder Farzam Ehsani stressing the importance of listing compliant digital assets. Yellow Card also added that its customers increasingly seek stable solutions for treasury and international payments.
“Our customers demand access to stable digital assets that are useful for secure cross-border payments and treasury management. Offering a regulatory-compliant stablecoin like RLUSD is a natural step in our mission to deliver trusted, enterprise-grade solutions,” Chris Maurice, CEO of Yellow Card, shared.
Ripple is establishing its stablecoin as a link between regional markets and international liquidity through these partnerships.
Global Expansion of RLUSD Continues
The African expansion comes on the heels of the company’s broader international rollout. Ripple recently introduced RLUSD in Japan through SBI Holdings. They also minted an additional $24 million, increasing their supply.
In July, Ripple launched RLUSD in Europe via Luxembourg under the EU’s MiCA framework. These actions collectively demonstrate the company’s long-term objective of strengthening the coin on a global scale.
Additionally, the coin is being used in pilot programs to address climate-related risks. In Kenya, Mercy Corps Ventures launched projects using the coin as a form of drought and rainfall insurance. The payouts for this are triggered automatically by smart contracts based on satellite data.
The company also highlighted the stablecoin’s compatibility with DeFi. RLUSD was recently integrated on Aave’s Horizon, allowing the coin to be used as collateral in open finance markets. Institutions and DeFi users now have more options for liquidity.
In Africa, where cross-border transactions are still costly and docile, Ripple’s launch presents a compelling alternative.
✓ Share:
Michael Adeleke
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.
