Ripple expands RLUSD to Africa with Strategic Partnerships
Ripple is bringing its enterprise-grade stablecoin, Ripple USD (RLUSD), to Africa. This move aims to enhance cross-border transactions and financial services across the continent. Ripple has chosen Chipper Cash, VALR, and Yellow Card as its partners for this venture.
Since its launch in 2024, RLUSD has reached over $700 million in market cap. Ripple emphasizes its commitment to regulation by operating as a New York limited-purpose trust company.
- Ripple collaborates with African firms to expand RLUSD usage.
- The stablecoin supports cross-border payments and trading.
- Partners see RLUSD as a secure option for various financial activities.
ripple’s senior vice president of stablecoins, Jack McDonald, highlighted the growing interest from global institutions. He expressed enthusiasm about offering RLUSD through local partners in Africa. African partners shared their optimism:
Ham Serunjogi of Chipper Cash expects RLUSD to facilitate quicker and cheaper remittances. VALR’s Farzam Ehsani views the listing as part of promoting digital assets. Yellow Card’s Chris Maurice believes it will address needs in emerging markets.
RLUSD’s utility goes beyond traditional finance. In Kenya,Mercy Corps Ventures tests it for weather insurance linked to satellite data. This aims to provide timely aid during climate challenges.
Ripple’s expansion follows a similar deal in Asia. The company solidifies RLUSD as a global tool for regulated dollar access, helping bridge traditional finance and decentralized options.
