Ripple brings stablecoin RLUSD to Africa in partnership with Chipper Cash, VALR, Yellow Card

Ripple, the U.S. payments company behind the dollar-pegged token Ripple USD (RLUSD), is expanding its stablecoin offering to Africa through a new set of partnerships with Chipper Cash, VALR, and Yellow Card.

Quick facts

• The company said the move will give African institutions access to stable digital dollars for use in cross-border payments, treasury management, and settlement on blockchain networks.
• Ripple described Africa as a “natural next step” for RLUSD, citing increasing demand among businesses worldwide.

What they’re saying

• Jack McDonald, Ripple’s senior vice president of stablecoins, said RLUSD had gained traction quickly among institutions and would now be extended to African partners.

“We’re seeing demand from our customers globally and are excited to begin distribution in Africa,” he said.

• Ham Serunjogi, co-founder and CEO of Chipper Cash, called the launch “transformative” for clients on the continent.

“After establishing our partnership with Ripple earlier this year to support faster, cheaper, more efficient cross-border payments into Africa, we were keen to make RLUSD available as soon as possible,” Serunjogi said.

Zoom out

• The RLUSD rollout builds on Ripple’s expanding activity across Africa.
• In April, Ripple partnered with Chipper Cash to integrate Ripple Payments, a service that leverages digital assets for near-instant, low-cost transfers.
• The same month, Ripple joined forces with Mercy Corps Ventures and nonprofit DIVA Donate in a pilot program supporting Kenyan herders hit by drought.
• Ripple contributed 25,000 RLUSD to the program, adding to the $12,000 previously provided by Mercy Corps Ventures and Arbitrum to widen its reach.