Ripple's RLUSD To Be Distributed Via YellowCard, VALR And Chipper Cash
Ripple's RLUSD To Be Distributed Via YellowCard, VALR and Chipper Cash. Photo By Amani Nation On Unsplash.
Ripple has announced it has partnered up with 3 industry partners to distribute its RLUSD stablecoin to the African continent, according to the company’s press release. The partnerships announced include Yellow Card, VALR and Chipper Cash, showing the breadth of Ripple’s strategy for Africa.
Yellow Card primarily focuses on stablecoins and ensuring merchants have sufficient liquidity to pay supplier invoices, as well as providing treasury and payments management to larger enterprises. It services across 20 African countries and supports local currencies, thereby will be giving users the opportunity to settle and accept RLUSD.
Co-founder and CEO Chris Maurice expressed:
“This listing reinforces our commitment to providing the most reliable and compliant payment infrastructure across Africa and the emerging markets. Our customers demand access to stable digital assets that are useful for secure cross-border payments and treasury management. Offering a regulatory-compliant stablecoin like RLUSD is a natural step in our mission to deliver trusted, enterprise-grade solutions.”
In turn, Chipper helps Ripple integrate into a national payments network. With over 1M Visa-linked virtual cards issued and 5M users, the payments infrastructure provider is beneficial for Ripple to scale its stablecoin in traditional use-cases, as well as help Chipper the rise of stablecoins into its own growth strategy.
Co-founder and CEO Ham Serunjogi stated:
“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 to our clients as soon as possible,” said Ham Serunjogi, Co-Founder & CEO at Chipper Cash. “RLUSD is uniquely positioned to drive institutional use of blockchain technology across Africa and broader global markets, including through cross-border payments.”
VALR on the other hand is an exchange for spot and futures trading of crypto such as BTC annd ETH, as well as tokenized stock from XStocks like CoinX (Coinbase) or MSTRX (Microstrategy). They also act as an OTC trading desk for institutions and enable a payment service using VALR Pay, with over 70 crypto assets supported.
Co-founder and CEO Farzam Ehsani remarked:
“As the largest crypto exchange in Africa, VALR is committed to providing our customers with access to compliant and high-quality digital assets. The listing of RLUSD reflects our broader strategy to support trusted stablecoin options that serve the evolving needs of both institutional and retail clients seeking a reliable digital dollar for a growing range of use cases.”
This comes at a time when emerging markets are continuing to increase their appetite for easy methods of making payments with digital currencies. Stablecoins are posed to enable this for the masses, and Ripple’s RLUSD is one of the top stablecoins helping achieve that. The stablecoin sits at a $709M market cap and is expected to grow in the coming months.
Note: This is intended for informational purposes only and does not in any way constitute or solicit financial, professional, or legal advice. Readers should conduct due diligence at all times.
This article has been partly researched and aggregated with the help of AI and does not pertain to be an exclusive story. For specific media and public information referenced, please find it below.
Source(s): https://ripple.com/ripple-press/ripples-usd-backed-stablecoin-rlusd-arrives-in-Africa/
https://yellowcard.io/treasury
