Ripple has announced the launch of its USD-backed stablecoin (RLUSD) in Africa through strategic partnerships with Chipper Cash, VALR, and Yellow Card. This marks an important step towards expanding access to stablecoins in the region.
Launch of RLUSD in Africa
RLUSD, backed by cash and cash equivalents, is issued under New York regulatory oversight and has already surpassed a market capitalization of $700 million. The stablecoin is designed to meet standards of compliance, security, and transparency for a variety of financial applications.
Growing Popularity in Africa
The rollout of RLUSD in Africa aligns with the growing demand for trusted digital dollar solutions for transactions, treasury management, and decentralized finance (DeFi) integration. Chipper Cash CEO Ham Serunjogi noted that this partnership would accelerate affordable and efficient payments into Africa. VALR, the continent's largest crypto exchange, confirmed it will list RLUSD to meet demand for compliant, institutional-grade digital assets.
Use of RLUSD in Finance and Humanitarian Projects
RLUSD is also being utilized in humanitarian projects. Mercy Corps Ventures is piloting RLUSD-backed climate insurance programs in Kenya, including drought and rainfall parametric insurance, where smart contracts automatically trigger payouts to farmers during extreme weather events.
Ripple is continuing to accelerate the global rollout of RLUSD, forging new partnerships and implementing innovative financial solutions to develop the stablecoin market.
