Ripple, the payments-focused digital asset firm, expanding its US dollar-backed stableecoin ripple USD (Rlusd) To institutions in Africa through new partnerships with wood chippers, Valr and Yellow Card Distributors.
The rolling aims to give companies across the continent access to a stable, digital dollar designed for cross-border payments, liquidity and on-chain settlement, the company said in a Wednesday press release.
RLUSD, launched by the end of 2024 and issued by a New York Trust Company regulated by the State Department of Financial Services, has grown to over $ 700 million in supply at Ethereum and the XRP headbook (Xrp)Rwa.xyz -Data shows. The token could be used for treasury operations, transfers and as a security for trade in tokenized assets such as raw materials or securities, Ripple said.
Ripple’s expansion comes as stableecoins emerge as a cheaper and faster alternative to traditional payment channels, especially in new markets where access to reliable currencies and banking is often limited. In parts of Africa, residents are already spending digital dollars as USDT for savings or cross -border transfers, a report from Castle Island and Brevan Howard said. RLUSDS POST introduces a regulated alternative aimed at institutional users, a segment facing challenges in accessing stable liquidity in local currencies.
In parallel, Mercy Corps Ventures is testing RLUSD in climate risk insurance initiatives in Kenya. In an experiment, StableCOin funds are automatically released when satellite data signals drought conditions. Another pilot supports rainfall insurance with payouts triggered by extreme weather events.
Read more: Ripple to buy StableCOin payments Firm rail for $ 200 million. In order to increase rlusd
