Ripple launches RLUSD stablecoin in Turkey

Ripple has made its USD-backed stablecoin RLUSD available in Turkey through integrations with local platforms Bilira, Bitexen and Bitlo. The launch gives businesses access to dollar-pegged settlement on regulated rails in a market that handles roughly $200 billion in crypto transactions each year.

RLUSD was introduced in 2024 and has reached a market capitalization near $1.7 billion. The token is built for enterprise use and is being offered to support cross-border payments, liquidity provision, collateral management and tokenization workflows.

Bilira, a Turkish stablecoin and crypto infrastructure provider, integrated RLUSD with a focus on compliance and regulatory integrity. Bitexen pointed to its network links across the Middle East, South Africa and Europe as a route for the asset. Bitlo framed the stablecoin as an option for wealth management and protection against volatility for institutional clients.

Turkey’s Capital Markets Board issued a 2024 licensing framework for digital asset firms that creates a regulatory path for exchanges and infrastructure providers to operate under supervision. Regulators and market participants report strong retail and institutional activity in Turkey, influenced by currency and inflation pressures.

Ripple maintains a regional base in the Dubai International Financial Centre and has approval from the Dubai Financial Services Authority to offer regulated crypto payment services in the UAE. The company reports that more than 20% of its global customer base is in the Middle East, and the Turkish rollout adds local liquidity and compliance connections for enterprise users.

Jack McDonald, Ripple’s SVP of Stablecoins, noted RLUSD has seen uptake in payments, tokenization and collateral operations. Mustafa Alpay, CEO of Bitlo, described the integration as providing regulated digital dollars suited to enterprise needs.