Ripple Brings RLUSD to Turkey Amid Stablecoin Competition

Ripple has expanded the reach of its U.S. dollar-backed stablecoin, RLUSD, into Turkey through partnerships with local cryptocurrency platforms BiLira, Bitexen, and Bitlo, targeting one of the world's most active digital asset markets as competition among stablecoin issuers accelerates.

Summary:

Ripple has launched RLUSD trading and access through Turkish crypto platforms BiLira, Bitexen, and Bitlo.
Turkey processed roughly $200 billion in crypto transaction volume over the past year.
RLUSD’s circulating market capitalization has grown to approximately $1.81 billion since its launch in late 2024.

Ripple Targets One of Crypto’s Most Active Markets

Ripple’s latest expansion reflects a broader effort to position RLUSD in regions where demand for dollar-denominated digital assets remains strong.

Turkey has emerged as one of the largest cryptocurrency markets globally, driven by a combination of high digital asset adoption and persistent currency volatility. According to regional market data from blockchain analytics firm Chainalysis, the country facilitated approximately $200 billion in cryptocurrency transaction volume over the past year, making it one of the most active digital asset economies in the Middle East and broader emerging markets.

Ripple executives view those conditions as favorable for stablecoin adoption.

Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, has previously highlighted Turkey’s unusually high level of crypto engagement. According to data cited by Merrick, approximately 25.6% of the country’s population owns digital assets, while ownership rises to roughly 52% among adults aged 18 to 60.

Türkiye is leading crypto adoption in MENA and ranking among the highest globally! 🇹🇷

2026 data shows ~25.6% of the population owning crypto (with surveys hitting 52% among adults 18-60), fueling massive volumes: nearly $200B in annual transactions in 2025, dwarfing the rest of…

— Reece Merrick (@reece_merrick) February 27, 2026

Those figures place Turkey among the world’s most active retail cryptocurrency markets.

Stablecoins Gain Ground as Inflation Hedges

Market participants increasingly use stablecoins as a tool for preserving purchasing power in economies facing currency volatility.
Rather than serving solely as trading instruments, dollar-backed digital assets have become an alternative savings vehicle for many users seeking exposure to the U.S. dollar without relying on traditional banking infrastructure.

Ripple’s expansion strategy appears closely aligned with that trend.

By integrating RLUSD into local exchanges, the company is positioning the stablecoin as both a settlement asset and a store of value for users operating within one of the world’s most active digital asset ecosystems.

The rollout also provides local investors and institutions with direct access to Ripple’s broader payment and blockchain infrastructure.

RLUSD Continues Rapid Growth

The Turkish expansion comes as RLUSD continues to gain market share within the stablecoin sector.

According to circulating supply data and valuation metrics tracked by Kraken, RLUSD’s market capitalization has reached approximately $1.81 billion less than two years after launch. The growth places the asset among the largest stablecoins in the digital asset industry and reflects increasing institutional and retail adoption.

The expansion follows a broader industry trend in which major financial and blockchain firms are launching proprietary dollar-backed assets to compete for cross-border payments, trading settlement, and tokenized finance activity.

As competition intensifies, distribution and regional adoption have become increasingly important differentiators among issuers.

Enterprise Utility Remains Ripple’s Focus

Ripple continues to emphasize institutional use cases rather than retail speculation.

According to company statements, RLUSD is designed to support cross-border payments, trading collateral, treasury management, and the growing market for tokenized real-world assets. Those applications align closely with Ripple’s long-standing strategy of building blockchain infrastructure for financial institutions and enterprise clients.

The company has also expanded its presence in Turkey beyond commercial partnerships.

Ripple recently partnered with Istanbul Technical University to support blockchain research initiatives and operate an XRP Ledger validator node, strengthening its academic and technical footprint within the country.

The initiative reflects a broader effort to build local infrastructure and developer engagement alongside commercial adoption.

Turkey Emerges as a Strategic Stablecoin Market

Ripple’s move underscores Turkey’s growing importance within the global digital asset landscape.

High crypto adoption, strong demand for dollar-denominated assets, and an increasingly sophisticated local trading ecosystem have made the country a key battleground for stablecoin issuers seeking international growth.

For Ripple, the launch represents more than a regional expansion. It provides access to a market where digital assets already play a meaningful role in everyday financial activity.

As stablecoin competition intensifies among issuers including Ripple, Circle, Tether, and traditional financial institutions, success may increasingly depend on gaining traction in high-usage markets where demand for digital dollars extends beyond trading and into payments, savings, and cross-border transfers.

The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.

Author

Alexander Zdravkov

Reporter at CoinsPress

Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.