- Ripple has launched RLUSD in Turkey through partnerships with BiLira, Bitexen and Bitlo, extending institutional access to its stablecoin.
- The company highlighted Turkey’s position as the largest crypto market in the MENA region, with nearly US$200 billion (AU$280 billion) in annual transaction volume.
- Ripple is also expanding its local footprint through a research partnership with Istanbul Technical University focused on blockchain development and XRP Ledger infrastructure.
Ripple has launched its RLUSD stablecoin in Turkey through partnerships with BiLira, Bitexen and Bitlo, extending the reach of the US dollar-backed asset into one of the region’s most active cryptocurrency markets.
The company said RLUSD is now available to institutions through the three Turkish platforms. Since its launch in late 2024, the stablecoin has expanded to a market capitalisation of about US$1.7 billion (AU$2.38 billion).
Ripple has promoted RLUSD as an enterprise-focused stablecoin designed for uses including payments, tokenisation and collateral management. The company said demand for the asset has increased as institutions seek regulated digital dollar products.
Related: Sydney Laksa Purchase Becomes Australia’s First Stablecoin Retail Payment on Base
A Strategic Growth Market
Turkey represents a significant market opportunity. Data cited by Ripple shows the country processes nearly US$200 billion (AU$280 billion) in annual cryptocurrency transaction volume, placing it ahead of other markets in the Middle East and North Africa region.
The stablecoin is also available through major international exchanges including Binance, Bitstamp, Bybit, Gemini, Kraken and OKX, providing broader global access.
In addition to the commercial rollout, Ripple is expanding its academic presence in the country. The company announced that Istanbul Technical University has joined its University Blockchain Research Initiative, with support funded through RLUSD.
The partnership will fund advanced blockchain research and graduate fellowships while establishing an XRP Ledger validator at the university. Ripple said the collaboration is intended to connect academic research with decentralised infrastructure and support the development of future blockchain expertise in Turkey.
Related: Dimon Declares War on Crypto Bill, Slams Coinbase CEO as Senate Vote Looms
Credit: Source link
