$RLUSD, a USD-backed stablecoin launched in late 2024, was built with compliance and institutional trust at its core. It is issued by a New York limited purpose trust company under the oversight of the NYDFS. Since its rollout, the $RLUSD has quickly expanded, surpassing $700 million in market capitalization, a sign of strong global demand for a regulatory-first digital dollar.
Ripple’s SVP of Stablecoins, Jack McDonald, noted that $RLUSD is already supporting diverse institutional applications such as payments, collateral management, and tokenization.
“Our customers and institutional partners worldwide are increasingly asking for RLUSD. Bringing it to Africa through local partners allows us to expand access while strengthening cross-border payment solutions.”
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RLUSD Gains Support from Leading African Fintech Firms
The initiative is closely tied to Ripple Payments, the company’s global remittance network, which now features $RLUSD within its stablecoin offering for international money transfers.
In Africa, the move is expected to boost efficiency in cross-border settlements. Chipper Cash CEO Ham Serunjogi noted that the integration extends the firm’s ongoing collaboration with Ripple, saying RLUSD is “uniquely positioned to accelerate institutional blockchain adoption across Africa and beyond.”
VALR, the region’s largest crypto exchange, shared a similar view. CEO Farzam Ehsani praised RLUSD for its very compliant and reliable nature, calling it a valuable asset to both the banks and the retail clients looking for a trustworthy digital dollar.
On the other hand, Yellow Card’s CEO Chris Maurice accentuated that $RLUSD is an important factor in the company’s mission of implementing safe and regulated payment infrastructure, especially for the very difficult and small cross-border treasury operations in the emerging markets.
Thus, through these partnerships, Ripple is strategically placing $RLUSD as the primary asset in facilitating the growth of the digital economy in Africa.
