Ripple's RLUSD stablecoin is now available in Africa, thanks to partnerships with several key companies, opening new opportunities for financial services on the continent.
Partnerships and Availability of RLUSD in Africa
Ripple has announced the availability of its RLUSD stablecoin in Africa through partnerships with Chipper Cash, Yellow Card, and VALR. According to a post on X dated September 4, this collaboration unlocks new potential for transactions and financial infrastructure in the region.
Pilot Projects in Kenya
In Kenya, Ripple is launching a pilot project with Mercy Corps Ventures, using RLUSD to create climate-resilient financial solutions, including insurance for droughts and rainfall via smart contracts.
Market Expansion of RLUSD and Its Consequences
Since the beginning of the year, RLUSD has expanded its presence through new partnerships worldwide. Notably, there are plans for a rollout in Japan with SBI VC Trade, and the stablecoin's market capitalization has exceeded $700 million. The use of stablecoins continues to strengthen financial infrastructure, with the stablecoin market capitalization around $297 billion.
The expansion of RLUSD's access in Africa and new partnerships emphasizes the growing role of stablecoins in the global financial system, opening new opportunities for users.
