Ripple’s RLUSD Stablecoin Launches in Turkey via Local Platforms

Ripple is introducing its RLUSD stablecoin in Turkey through collaborations with three local platforms: BiLira, Bitexen, and Bitlo. This move aims to enhance the availability of the dollar-backed stablecoin for Turkish institutions.

BiLira, Bitexen, and Bitlo will make Ripple’s RLUSD stablecoin available to Turkish institutions.

By Shaurya Malwa | Edited by Sheldon Reback Jun 2, 2026, 11:50 a.m. 1 min read

What to know:

• Ripple is expanding its dollar-backed stablecoin, RLUSD, into Turkey through partnerships with local platforms BiLira, Bitexen, and Bitlo.
• Launched in late 2024, RLUSD has reached a market capitalization of approximately $1.7 billion and is positioned for use in payments, tokenization, and as collateral, particularly in a market affected by inflation and currency fluctuations.
• Istanbul Technical University is set to participate in Ripple’s University Blockchain Research Initiative, which will be funded in RLUSD, aiming to foster research and graduate fellowships while establishing an XRP Ledger validator on campus.

Ripple's RLUSD stablecoin is making its entry into the Turkish market through partnerships with BiLira, Bitexen, and Bitlo, as stated in an email to CoinDesk.

Since its launch in late 2024, RLUSD has achieved a market cap of around $1.7 billion, as indicated by onchain data. The token is being marketed for its applications in payments, tokenization, and collateral, which are essential functions for crypto firms and trading desks.

Turkey presents a strategic opportunity for this expansion, being one of the leading crypto markets in the Middle East and North Africa, with nearly $200 billion in annual transaction volume, according to Chainalysis data referenced by Ripple. The demand for dollar-pegged crypto products in the region has been influenced by factors such as inflation, currency instability, and increasing regulation of digital asset platforms.

The partnerships will integrate RLUSD into BiLira, which issues the TRYB Turkish lira stablecoin and operates a local OTC desk, along with Bitexen and Bitlo.

As the eighth-largest stablecoin by market capitalization, RLUSD is also accessible globally through exchanges like Binance, Bitstamp, Bybit, Gemini, Kraken, and OKX. The stablecoin market is primarily led by Tether's USDT, which has a market cap of $188 billion.

Ripple has additionally announced that Istanbul Technical University will join its University Blockchain Research Initiative, which will support research initiatives, graduate fellowships, and the establishment of an XRP Ledger validator on its campus, with funding provided in RLUSD.