Ripple Labs To Boost RLUSD Adoption With Mercy Corps Partnership
Highlights
- Ripple Labs is boosting its partnership with Mercy Corps to promote SMEs
- Through Unlocking Opportunities, tech entrepreneurs in the Global South can utilize XRP Ledger
- Though not yet launched, RLUSD stablecoin will play a vital role
American blockchain payments firm Ripple Labs Inc. is carving a new adoption path for its yet-to-be-launched stablecoin RLUSD. In its latest announcement, the company expanded its partnership with Mercy Corps with the “Unlocking Opportunity” program. This initiative is hinged on driving growth in emerging markets by supporting entrepreneurs and Small and Medium Enterprises (SMEs).
RLUSD Stablecoin Role In New Ripple Labs Campaign
As the company revealed, its plans hinge on supporting fintech and SMEs looking to leverage its solutions. Specifically, the firm mentioned those building on the XRP Ledger or utilizing RLUSD stablecoin. More specifically, Ripple Labs said its preferred innovators are those working to boost “financial inclusion use cases such as savings, remittances, micropayments, and tokenization of real-world assets.”
The Unlocking Opportunities campaign is targeted at the global south. This program will fund firms with grant amounts up to $100,000. Other key use cases the program will focus on include DeFi loans, Real World Asset tokenization. It also plans to back ventures hinged on savings and payments as well as stablecoin in distributing humanitarian aids.
With more than $5.5 million committed to Mercy Corps Ventures thus far, Ripple said scalability remains its watchword. As a major partner of Mercy Corps, Ripple Labs pointed out that it has backed about 54 early-stage startups. These firms embodies inclusion as 44% of them have at least a female co-founder.
As Ripple Labs noted, the firm has recorded success with previous campaigns in the past. With this, it believes it can further help bolster the growing reach of XRP Ledger and ultimately, the RLUSD Stablecoin.
Is the RLUSD Stablecoin Ready For Launch
While Ripple Labs have a lofty plan for the stablecoin, it has not confirmed the exact timeline designated for the launch. However, Ripple Labs CEO Brad Garlinghouse has hinted that the stablecoin forms a major piece of the puzzle in its prospective payment revolution.
The company has been conducting advanced testing for the token on both the XRP Ledger and Ethereum blockchains. When launched, RLUSD will compete with existing stablecoins like USDT and USDC. Though the company is silent on its plans to beat the competition, its rigorous testing shows it is leaving no stone unturned.
Among the core delays for this token’s launch is the regulatory clearance, without which it might not progress to the next stage.
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