Ripple's stablecoin expands into Turkey

Ripple is launching its dollar-backed stablecoin, RLUSD, in Turkey through partnerships with local platforms BiLira, Bitexen, and Bitlo. This move aims to leverage Turkey's significant crypto market, which sees nearly $200 billion in annual transactions, and address local demand driven by inflation and currency volatility. RLUSD, currently valued at approximately $1.7 billion, is being positioned for payments, tokenization, and collateral use. Additionally, Istanbul Technical University will join Ripple's University Blockchain Research Initiative, funded by RLUSD, to support campus research and an XRP Ledger validator.