Ripple Labs Launches RLUSD Stablecoin in Africa Through Key Partnerships
Ripple Expands RLUSD Stablecoin to Africa
Ripple Labs has launched its USD-pegged stablecoin, RLUSD, in Africa through partnerships with Chipper Cash, VALR, and Yellow Card. This initiative aims to enhance cross-border payments and financial infrastructure on the continent.
- RLUSD's introduction was announced on September 4.
- The stablecoin provides businesses with access to a stable digital dollar, facilitating smoother cross-border transactions.
- Launched officially in December 2024, RLUSD received approval from the New York Department of Financial Services.
- It has formed partnerships across multiple regions including the US, Asia, the UK, and the Middle East.
- In Singapore, RLUSD can be traded against SGD and USD, and is integrated into Aave Labs’ tokenization platform.
- Ripple plans to expand RLUSD into Europe under the Market in Crypto Assets (MiCA) regulation via Luxembourg.
- The current total supply of RLUSD across Ethereum and the XRP Ledger has reached $700 million.