Ripple's RLUSD stablecoin launches in Turkey via BiLira, Bitexen, Bitlo
In brief
- RLUSD stablecoin launches in Turkey via BiLira, Bitexen, and Bitlo partnerships
- RLUSD market cap reaches $1.7 billion since late 2024 launch
- Turkey's crypto market generates $200 billion in annual transaction volume
- RLUSD ranks eighth globally among stablecoins; listed on six major exchanges
- Istanbul Technical University joins Ripple blockchain research initiative with RLUSD funding
Turkish market entry
Ripple's RLUSD stablecoin expanded into Turkey through the three partnerships, the company said in an email to CoinDesk. Turkey remains one of the largest crypto markets in the Middle East and North Africa, with nearly $200 billion in annual transaction volume according to Chainalysis data.
BiLira, one of the three partners, issues the Turkish lira stablecoin TRYB and operates a local OTC desk. The platform's integration of RLUSD gives Turkish institutions direct access to Ripple's dollar-backed asset alongside local lira options.
Growth and competitive standing
RLUSD has grown to about $1.7 billion in market capitalization since launching in late 2024. The stablecoin ranks as the eighth-largest by market capitalization, trailing Tether's $188 billion USDT and other established competitors.
RLUSD is available globally through exchanges including Binance, Bitstamp, Bybit, Gemini, Kraken and OKX. The Turkish expansion extends that reach into a region where dollar stability matters.
Academic partnership
Ripple also announced that Istanbul Technical University will join its University Blockchain Research Initiative. The partnership will support research, graduate fellowships and an XRP Ledger validator on campus, with funding provided in RLUSD.
This move signals Ripple's broader strategy to embed its stablecoin and ledger technology into institutional infrastructure across emerging markets.
