Ripple has announced a major expansion of its USD-backed stablecoin, RLUSD, into Türkiye through new partnerships with local digital asset platforms BiLira, Bitexen, and Bitlo, strengthening its presence in one of the world’s fastest-growing cryptocurrency markets.
The move marks a significant step in Ripple’s broader strategy to increase institutional adoption of RLUSD across the Middle East and North Africa (MENA) region. Türkiye remains the region’s largest crypto market, generating nearly $200 billion in annual transaction volume and surpassing neighboring markets by a substantial margin.
The country’s strong embrace of digital assets has been driven by a combination of economic factors, including persistent inflation and the depreciation of the Turkish lira, prompting many citizens and businesses to seek exposure to dollar-backed digital assets. At the same time, regulatory reforms introduced by Türkiye’s Capital Markets Board (CMB) in 2024 have transformed the sector into a more structured and institution-friendly environment.
Ripple’s RLUSD stablecoin, launched in late 2024, has rapidly gained momentum among institutional users worldwide. The company reports that RLUSD has already reached a market capitalization of approximately $1.7 billion, reflecting growing demand for regulated and transparent digital dollar solutions.
“RLUSD has quickly established itself as an important tool for payments, tokenization, and collateral management,” said Jack McDonald, Senior Vice President of Stablecoins at Ripple. He noted that Türkiye’s position at the intersection of traditional finance and digital innovation makes it a strategic market for the company’s global expansion plans.
The new partnerships will allow Turkish institutions to access RLUSD through leading local platforms. Industry leaders welcomed the collaboration, highlighting the increasing demand for compliant, dollar-backed digital assets within the country’s evolving financial ecosystem.
Sinan Koç, Co-Founder of BiLira, said the partnership aligns with the company’s mission of connecting traditional finance with emerging blockchain technologies while maintaining strong regulatory standards.
Meanwhile, Alphan Göğüş, CEO of Bitexen MENA, described RLUSD as a trusted USD-denominated instrument that supports the company’s strategy of linking regional markets with global liquidity networks.
Mustafa Alpay, CEO of Bitlo, added that the integration of RLUSD will provide Turkish users with a secure gateway to global financial markets while offering a stable digital asset designed to help manage market volatility.
Ripple emphasized that RLUSD has been developed with a strong focus on regulatory compliance, leveraging the company’s global licensing portfolio and extensive experience across both traditional and digital financial sectors.
Beyond Türkiye, RLUSD is already available through several major global cryptocurrency exchanges, including Binance, Kraken, Gemini, Bitstamp, Bybit, and OKX.
In a parallel initiative aimed at supporting blockchain innovation in the country, Ripple also announced a new collaboration with Istanbul Technical University under its University Blockchain Research Initiative (UBRI). The partnership will fund advanced blockchain research, support graduate fellowships, and establish an XRP Ledger validator on the university’s campus, helping to develop the next generation of blockchain talent in Türkiye.
The dual announcements underscore Ripple’s commitment to expanding both institutional blockchain adoption and academic research as it continues to strengthen its footprint in key global markets.
