Ripple Expands $1.7 Billion RLUSD Into Turkey via 3 Local Crypto Platforms
Updated
Updated · CoinDesk · Jun 2
Ripple Expands $1.7 Billion RLUSD Into Turkey via 3 Local Crypto Platforms
3 articles · Updated · CoinDesk · Jun 2
$1.7 billion RLUSD will be offered to Turkish institutions through BiLira, Bitexen and Bitlo, extending Ripple’s dollar-backed stablecoin into one of the region’s biggest crypto markets.
Turkey’s nearly $200 billion annual crypto transaction volume, along with inflation and lira volatility, has boosted demand for dollar-linked tokens used for payments, tokenization and collateral.
The rollout adds RLUSD to BiLira’s ecosystem alongside its TRYB lira stablecoin and broadens Ripple’s push beyond global exchange listings such as Binance, Kraken and OKX.
Istanbul Technical University is also joining Ripple’s blockchain research initiative with RLUSD funding for research, graduate fellowships and an XRP Ledger validator on campus.
RLUSD is now the eighth-largest stablecoin by market value, though it still trails Tether’s dominant $188 billion USDT.
With crypto payments banned in Turkey, how can Ripple's new stablecoin actually be used?
Can a dollar-pegged stablecoin protect Turks from losses under their Lira-based tax system?
Ripple’s RLUSD Rises to Top 8 Stablecoins: Regulatory-Driven Entry and Institutional Partnerships in Turkey
Overview
Ripple is expanding globally with its USD-backed stablecoin, RLUSD, which has quickly become the eighth-largest stablecoin and is available on major exchanges. This strong global presence sets the stage for RLUSD’s entry into Turkey, a country facing high inflation and currency volatility. In Turkey, stablecoins like RLUSD are increasingly attractive for preserving value and making transactions. RLUSD’s growth and accessibility highlight its potential to meet the needs of Turkish users, offering a stable alternative in a challenging economic environment and supporting Ripple’s broader strategy to build trust and adoption in new markets.