Ripple, the digital asset firm focused on payments, widens its stablecoin Ripple USD supported by an American dollar (Rlusd) to institutions in Africa thanks to new partnerships with distributors of Chipper Cash, Valr and Yellay Cart.
The deployment aims to give companies on the continent access to a stable digital dollar designed for cross -border payments, liquidity and chain regulations, the company said in a press release on Wednesday.
Rlusd, launched at the end of 2024 and issued by a New York trust company regulated by the State Financial Services Department, has reached more than $ 700 million in offer on Ethereum And the big book XRP (XRP)Rwa.xyz data show. The token could be used for Treasury operations, funding of funds and as guaranteed to trade tokenized assets such as raw materials or titles, said Ripple.
The expansion of Ripple occurs while the stablescoins emerge as a cheaper and faster alternative to traditional payment channels, especially in emerging markets where access to reliable currencies and banking services is often limited. In some parts of Africa, residents are already using digital dollars such as USDT for economies or cross -border transfers, a report by Castle Island and Brevan Howard said. The entry of RUSD introduces a regulated alternative targeting institutional users, a segment facing challenges to access to stable liquidity in local currency.
In parallel, Mercy Corps Ventures tests the RUSD in climate insurance initiatives in Kenya. In a trial, Stablecoin funds are automatically released when satellite data report drought conditions. Another pilot underpins precipitating insurance, with payments triggered by extreme weather events.
Read more: Ripple to buy a Rail of the Stablecoin payment company for $ 200 million to increase the Rlusd
