Ripple, the U.S.-based crypto infrastructure company, is bringing its dollar-backed stablecoin, Ripple USD (RLUSD), to Africa in partnership with fintech startups VALR, Yellow Card, and Chipper Cash. The move marks Ripple’s most significant push yet into one of the world’s fastest-growing stablecoin markets.
Under the new rollout, VALR, South Africa’s largest crypto exchange, will list RLUSD for trading. Yellow Card, a pan-African payments platform active in over 20 countries, will offer the stablecoin for retail and business transactions. Meanwhile, Chipper Cash, one of Africa’s leading cross-border payments companies, will integrate RLUSD into its remittances and treasury services.
According to blockchain analytics firm Chainalysis, Sub-Saharan Africa processed nearly $54 billion worth of stablecoin transactions in 2024, accounting for almost half of all crypto activity in the region. Stablecoins have become a lifeline in markets like Nigeria, where USDT (Tether) is widely used as a hedge against the naira’s volatility. Ripple’s strategy aims to position RLUSD as a regulatory-compliant alternative in the same space.
Ripple launched RLUSD in December 2024, issued by a New York trust company regulated by the NYDFS. Despite being relatively new, the stablecoin has grown to a market capitalization of $700 million, though it currently represents just 0.24% of the global $297 billion stablecoin market dominated by USDT, USDC, and Ethena’s USDe.
Jack McDonald, Ripple’s SVP of Stablecoins, said: “We’re seeing demand for RLUSD from our customers and institutional partners globally, and are excited to begin distribution in Africa through our local partners.”
Beyond financial trading and payments, Ripple is also positioning RLUSD for humanitarian and climate-focused use cases. In Kenya, the company is working with Mercy Corps Ventures on pilot projects to use the stablecoin for insurance payouts to farmers affected by droughts and floods.
Ripple’s expansion comes as global competition intensifies among stablecoin issuers. While Tether and Circle dominate, Ripple is betting on distribution and compliance as key advantages to capture Africa’s fast-growing digital dollar demand.
0 Comments