As an analyst, I’m following the expansion of Ripple’s stablecoin, RLUSD. They’ve just announced that institutional clients in Türkiye can now access it through partnerships with BiLira, Bitexen, and Bitlo. This move effectively brings a USD-backed stablecoin option to those institutions within the Turkish market.
Summary
- Ripple launched RLUSD in Türkiye through BiLira, Bitexen and Bitlo for institutional stablecoin access locally.
- RLUSD crossed $1.7 billion in market cap less than one year after its launch globally.
- Ripple also added Istanbul Technical University to UBRI, funding blockchain research through RLUSD and fellowships.
Ripple expands RLUSD access in Türkiye
Ripple announced on June 2nd that Turkish institutions can now use RLUSD, a stablecoin backed by the US dollar. It’s available through the platforms BiLira, Bitexen, and Bitlo, giving these users access to a regulated digital currency.
RLUSD is now accessible in Turkey thanks to partnerships with three new platforms: BiLira Kripto, Bitexen, and Bitlo. This expansion follows a rapid first year for RLUSD, which has grown to a market capitalization of over $1.7 billion. The increasing demand for regulated…
— Ripple (@Ripple) June 2, 2026
RLUSD was introduced in late 2024 and has quickly become a significant player, with a market value exceeding $1.7 billion. According to Ripple, the stablecoin is designed to facilitate payments, represent assets digitally (tokenization), and manage collateral both within the crypto world and traditional financial systems.
Türkiye becomes a key stablecoin market
Ripple notes that Türkiye is a major cryptocurrency market in the Middle East and North Africa. According to data from Chainalysis, the country sees almost $200 billion in crypto transactions each year.
This launch follows Turkey’s new rules for crypto companies, which were introduced in 2024. These rules are designed to bring more oversight to the crypto market and make it easier for international companies to partner with local platforms.
Jack McDonald, Ripple’s head of stablecoins, also noted that RLUSD is quickly becoming popular for various financial applications. He highlighted Türkiye as an important market, as it bridges the gap between traditional and digital finance.
BiLira, Bitexen, and Bitlo are making RLUSD available to users and institutions in Turkey. BiLira highlighted the importance of adhering to regulations with this new offering. Bitexen explained that RLUSD aligns with their strategy of providing US dollar-based financial products in multiple areas. Bitlo noted that their customers are looking for a stable and secure digital dollar to protect their assets and minimize risk from market fluctuations.
Ripple adds university blockchain link
Ripple has partnered with Istanbul Technical University through its University Blockchain Research Initiative. This collaboration will provide funding for blockchain research projects, as well as support graduate students and academic studies, all managed through RLUSD.
The university will operate an XRP Ledger validator right on campus. According to Ripple, this will link university research with a real-world blockchain network and provide students with hands-on experience using decentralized technology.
RLUSD is now available on many of the world’s leading cryptocurrency platforms, such as Binance, Bitstamp, Kraken, OKX, Gemini, Bybit, Bitso, and LMAX. As crypto.news reported earlier, Binance added RLUSD in January following significant growth, and we’ve continued to follow its increasing market value alongside rising activity on the XRP Ledger.
Expanding into Türkiye allows Ripple to reach a market with high demand for stablecoins and cryptocurrency. Ripple hasn’t limited these new partnerships to individual customers; instead, they’re focused on serving businesses, facilitating corporate payments, and providing access to regulated digital dollars.
This launch expands Ripple’s reach into a new local market and gives Turkish institutions another safe and regulated option for a dollar-backed stablecoin, all through local partnerships.
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2026-06-02 11:24