XRP News: Ripple Expands RLUSD Stablecoin to $200 Billion Turkey Crypto Market

In major XRP news today, Ripple strengthened its position in the global stablecoin sector with a major expansion of its RLUSD stablecoin into Turkey, one of the world’s most dynamic crypto markets. As a result, RLUSD stablecoin’s market cap surpassed $1.8 billion on Tuesday.

Ripple Taps New Partners to Expand RLUSD Stablecoin in Turkey

RLUSD is now available in Turkey through three new partners, according to an official announcement by Ripple on June 2. It boosts the stablecoin adoption in a country where crypto serves as means to manage their wealth and hedge against volatility.

Notably, Ripple partnered with BiLira, Bitexen and Bitlo crypto exchanges to offer tradFi institutions access to RLUSD stablecoin. The crypto firm has even integrated on-chain capabilities into its treasury management system, enabling access to XRP and RLUSD.

“RLUSD has rapidly gained traction in financial use cases, serving as a vital bridge for payments, tokenization, and collateral management,” said Jack McDonald, SVP of Stablecoins at Ripple.

As enterprise demand scales globally, launching in Türkiye represents a milestone in our expansion. Türkiye sits at the crossroads of traditional finance and the digital economy, with one of the world’s highest rates of crypto adoption.

Turkey’s crypto market has evolved significantly in recent years amid high inflation and Turkish lira volatility. Chainalysis research revealed Turkey as a major crypto market, facilitating nearly $200 billion in annual transaction volume.

XRP News: RLUSD Stablecoin Market Cap Overtakes $1.8 Billion

The expansion has increased RLUSD’s market cap to surpass $1.8 billion, a major news for the XRP community. It cements its status among the top 10 USD stablecoins. As CoinGape reported earlier, Ripple expanded RLUSD stablecoin on OKX.

Backed 1:1 by U.S. dollar deposits, Treasuries, and cash equivalents, RLUSD offers tradFi institutions and users a regulated, transparent alternative for payments, remittances, and treasury management.

This growth comes amid news of strong institutional interest in the stablecoin and XRP. RLUSD, issued on the XRP Ledger and Ethereum, provides fast and low-cost settlements.

Ripple continues to work with top-tier partners to make RLUSD available around the world. In addition to the three new Turkish partners, RLUSD is also available on Binance, Bitso, Bitstamp, ByBit, Gemini, Kraken, LMAX, OKX, and others, ensuring global access and availability.

Ripple Brings Major News of Establishing XRP Ledger (XRPL) Validator

Along with building on RLUSD’s momentum in Turkey, Ripple announced Istanbul Technical University (ITU) as the latest partner in its global University Blockchain Research Initiative (UBRI).

The partnership is funded by the stablecoin to support advanced research initiatives and graduate fellowships. Ripple and ITU will also establish an XRP Ledger (XRPL) validator directly on the university campus.

Ripple and ITU to boost blockchain innovation with the next generation of Turkish researchers and students, integrating academic research and hands-on decentralized infrastructure.

Despite several XRP news including Kalshi filing for XRP futures listing, price continued to trade near $1.26. The 24-hour high and low are $1.31 and $1.26, respectively. Trading volume has increased by 55% over the last 24 hours.