Ripple is expanding the global reach of its stablecoin Ripple USD (RLUSD) by launching it in Türkiye through partnerships with local crypto firms BiLira, Bitexen, and Bitlo.
According to Ripple’s announcement on June 2, Turkish institutions will now gain access to RLUSD, the company’s USD-backed stablecoin designed for enterprise payments, tokenization, and treasury operations. The move marks Ripple’s latest push to strengthen RLUSD’s presence in key international markets where crypto adoption remains strong.
The launch comes as RLUSD continues to gain momentum globally. Since debuting in late 2024, the stablecoin has grown to a market capitalization of approximately $1.7 billion, reflecting increasing institutional demand for regulated and compliance-focused digital dollars.
Targeting Türkiye’s growing crypto market
Ripple views Türkiye as a strategic market due to its high rate of crypto adoption and expanding regulatory clarity.
According to Ripple, Türkiye facilitates nearly $200 billion in annual crypto transaction volume, making it the largest crypto market in the Middle East and North Africa (MENA) region. The country’s regulatory framework introduced by the Capital Markets Board (CMB) in 2024 has also encouraged greater institutional participation in digital assets.
Commenting on the expansion, Jack McDonald, Senior Vice President of Stablecoins at Ripple, said RLUSD is increasingly being used across financial applications. “RLUSD has rapidly gained traction in financial use cases, serving as a vital bridge for payments, tokenization, and collateral management. As enterprise demand scales globally, launching in Türkiye represents a milestone in our expansion,” McDonald said.
He added that Türkiye sits at the intersection of traditional finance and digital assets, making it an important market for regulated stablecoin adoption.
Local partners back RLUSD adoption
Ripple’s Turkish partners highlighted the role RLUSD could play in connecting local businesses to global liquidity.
Sinan Koç, Co-Founder of BiLira, said the partnership is built around regulatory compliance and trust. “By prioritizing the availability of RLUSD, we are providing our clients with a gold-standard asset designed for the next era of finance,” he said.
Bitexen CEO Alphan Göğüş noted that supporting RLUSD aligns with the exchange’s strategy of offering compliant USD-denominated products across multiple regions.
Meanwhile, Bitlo CEO Mustafa Alpay said Turkish users increasingly seek secure digital dollar alternatives to manage wealth and hedge against volatility.
Ripple expands beyond stablecoins
Alongside the RLUSD launch, Ripple announced a new partnership with Istanbul Technical University (ITU) through its University Blockchain Research Initiative (UBRI).
The collaboration will fund blockchain research, graduate fellowships, and the deployment of an XRP Ledger validator on the university’s campus. Ripple said the initiative aims to help develop the next generation of blockchain researchers and developers in Türkiye.
The Türkiye launch adds to RLUSD’s growing global footprint. The stablecoin is already available through major exchanges including Binance, Kraken, Gemini, Bybit, Bitstamp, OKX, and Bitso.
As competition among stablecoin issuers intensifies, Ripple is positioning RLUSD as a compliance-first alternative for institutions seeking access to regulated digital dollar liquidity, payments infrastructure, and tokenized finance applications.
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