Ripple continues to grow its services in the cryptocurrency and fintech space following the conclusion of its legal battle with the SEC while announcing new partnerships.
Expansion of RLUSD Support in Africa
Ripple has announced the expansion of its RLUSD stablecoin support in Africa through strategic partnerships with fintech companies VALR, Chipper Cash, and Yellow Card. The goal of these partnerships is to enhance transaction efficiency and improve financial infrastructure on the continent.
Partnership Update with Thunes
The company has upgraded its collaboration with Asian fintech giant Thunes to enhance blockchain transactions. This update implies the use of Ripple Payments in Thunes Direct Global Network, covering over 130 countries and supporting more than 80 currencies.
Criticism of Ripple’s Centralization
Despite efforts to expand into the fintech industry, Ripple has faced criticism for its centralized network. Caitlin Long, the CEO of Custodia Bank, expressed concerns over the tokenomics and consensus approach of the XRP ledger. These remarks highlight trust and regulatory issues that Ripple still needs to address.
Ripple’s recent announcements emphasize the company’s ambition to become a core player in the fintech ecosystem, yet challenges regarding trust and integration with traditional banks remain.
