Ripple, a provider of digital asset infrastructure, is making its US dollar-backed stablecoin, Ripple USD (RLUSD), available to institutions in Africa through partnerships with Chipper Cash, VALR and Yellow Card.
The move brings RLUSD into the African market for the first time. Ripple said the expansion is intended to address institutional demand for regulated and reliable digital assets.
Launched in late 2024, RLUSD has a market capitalisation of more than $700million. Ripple says it designed the stablecoin for compliance and utility, and issues it through a New York limited purpose trust company regulated by the state’s Department of Financial Services (NYDFS).
Jack McDonald, SVP of Stablecoins at Ripple, commented: “RLUSD has quickly become established in enterprise financial use cases, from payments to tokenisation to collateral in both crypto and traditional trading markets. We’re seeing demand for RLUSD from our customers and other key institutional players globally and are excited to now begin distribution in Africa through our local partners.”
He added that RLUSD was recently enabled in Ripple Payments, expanding the range of stablecoins available through the company’s cross-border payments product.
Distribution through African partners
Ripple’s three new partners will distribute RLUSD across the continent and integrate it into their services.
“RLUSD is uniquely positioned to drive institutional use of blockchain technology across Africa and broader global markets, including through cross-border payments,” said Ham Serunjogi, co-founder and CEO at Chipper Cash.
Chris Maurice, CEO and co-founder at Yellow Card, also added: “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”.
Farzam Ehsani, co-founder and CEO of VALR, an African crypto exchange, suggested the listing reflects a broader strategy to meet demand from all corners of the market. “The listing of RLUSD reflects our broader strategy to support trusted stablecoin options that serve the evolving needs of both institutional and retail clients seeking a reliable digital dollar for a growing range of use cases,” he said.
Beyond payments
Beyond financial services, RLUSD is also being used in pilot projects led by Mercy Corps Ventures (MCV) in Kenya. The projects aim to support communities affected by extreme weather events.
In one pilot, RLUSD serves as drought insurance for farmers. Funds are held in escrow and released automatically via smart contracts if satellite data signals the likelihood of drought. A second project applies a similar model to rainfall, releasing funds during periods of extreme precipitation.
GRipple continues to expand RLUSD’s reach through partners worldwide. In addition to its new African partnerships, the stablecoin is available through exchanges and platforms, including Bitso, Bitstamp, Gemini, Kraken and Uphold.