Ripple has expanded the reach of its USD-backed stablecoin, RLUSD, by making it available to institutions in Türkiye through new partnerships with local cryptocurrency platforms BiLira, Bitexen, and Bitlo.
The move gives Turkish institutions access to RLUSD, a regulated stablecoin backed by the U.S. dollar that Ripple launched in late 2024. Since its debut, RLUSD has grown rapidly and now has a market capitalization of more than $1.7 billion.
Ripple says RLUSD is designed for a wide range of financial uses, including payments, asset tokenization, and collateral management across both traditional finance and digital asset markets.
Türkiye has become one of the most important cryptocurrency markets in the Middle East and North Africa region. According to industry data, the country processes nearly $200 billion in annual cryptocurrency transactions, making it a major hub for digital asset activity.
The expansion comes after Türkiye introduced a regulatory framework for crypto asset service providers in 2024. The new rules created a clearer operating environment for both local and international companies, helping encourage growth in the sector.
Ripple executives believe the country offers strong opportunities for stablecoin adoption due to its active crypto market and growing demand for digital financial services. The company views Türkiye as an important bridge between traditional financial systems and the emerging digital economy.
The three local partners will help provide access to RLUSD for institutions and users across the country. Each platform highlighted the importance of regulated and secure digital dollar solutions, particularly for businesses and investors seeking protection from market volatility.
In addition to expanding RLUSD availability, Ripple also announced a new academic partnership with Istanbul Technical University. The university has joined Ripple’s University Blockchain Research Initiative (UBRI), which supports blockchain research and education around the world.
Through the partnership, Ripple will fund research projects, graduate fellowships, and blockchain-related academic programs using RLUSD. The university will also operate an XRP Ledger validator, giving students and researchers direct experience with blockchain infrastructure and decentralized networks.
RLUSD is already available on several major global cryptocurrency platforms and continues to expand into new markets. The latest launch in Türkiye strengthens Ripple’s international stablecoin strategy and adds another important region to RLUSD’s growing global network.
For Turkish institutions, the rollout provides access to another regulated dollar-backed stablecoin, while Ripple gains a stronger presence in one of the world’s most active cryptocurrency markets.
