Ripple to Revolutionise Crisis Relief with RLUSD Stablecoin and Blockchain Technology

Ripple yesterday announced it has entered into a US$1 million, multi-year partnership with the International Rescue Committee (IRC), an international aid organisation that helps victims of crises recover and rebuild their lives, including support for families impacted by conflicts in Gaza, Lebanon and Ukraine.

The partnership will explore how Ripple’s cross-border payments solution and its upcoming stablecoin, RLUSD, can be used to improve the speed and efficiency of humanitarian aid distribution.

Related: Ripple Report on Australia’s Digital Future: Unlocking $12 Billion Through Asset Tokenisation

Speedier Cash Relief for Victims of War and Disasters

Ripple’s US$1 million commitment will help the IRC explore the use of blockchain in two key areas of crisis aid distributions: direct cash relief programs and cross-border fund transfers. It said the partnership has the “potential to transform aid delivery at scale”, by combining Ripple’s “leadership in compliant blockchain payments” with IRC’s “expertise in delivering impactful aid across 40+ countries”.

Ripple’s SVP of Strategic Initiatives, Eric Van Miltenburg, said it’s an important step forward as the company looks to use its technology to make a positive impact:

We look forward to learning from the IRC’s deep experience in delivering aid on the ground, which will help Ripple support humanitarian efforts at scale. By combining our full suite of payments solutions with the IRC’s expertise, we aim to help vulnerable communities access critical resources quickly, securely, and at scale.

Eric Van Miltenburg, SVP of Strategic Initiatives at Ripple

The IRC’s President and CEO, David Milliband said the organisation was particularly interested in exploring how Ripple’s technology could improve the speed and efficiency of cash relief, saying:

We’re excited to partner with Ripple, a trusted leader in blockchain payments, to explore how their technology, like stablecoins, can enhance the speed and efficiency of cash-relief, particularly in regions with limited access to traditional banking infrastructure in times of crisis.

David Milliband, President and CEO of International Rescue Committee

Partnership Follows Announcement of RLUSD Exchange Partners

Ripple’s partnership with IRC comes just a day after the company announced the first tranche of exchange partners for the soon to be released RLUSD stablecoin. The list includes Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. 

Ripple says it is now just awaiting final regulatory approval before RLUSD is launched globally.

Related: Ripple’s RLUSD Stablecoin to Boost XRP, Provide Liquidity and Forex Use Cases

Ripple CEO, Brad Garlinghouse, said in a statement that RLUSD is set to become the “gold standard for enterprise-grade stablecoins”, adding that:

Customers and partners have been asking for high-quality stablecoins like RLUSD to use across various financial use cases, such as payments, tokenization of real-world assets, and decentralized finance. Our payment solutions will leverage RLUSD, XRP, and other digital assets to enable faster, more reliable, and cost-effective cross-border payments.

Brad Garlinghouse, Ripple CEO