Ripple's RLUSD Expands Into Turkey

Ripple has announced that its dollar-pegged stablecoin $RLUSD is now available in Türkiye through three local exchanges: BiLira, Bitexen, and Bitlo. The move marks a significant step in the stablecoin's push into emerging markets where demand for dollar-denominated assets is running high.

A Market Built for Dollar Stability

Türkiye's appetite for digital dollars is well documented. Roughly 25.6% of the Turkish population currently owns cryptocurrency, with adoption reaching 52% among adults aged 18 to 60. Turkey facilitated nearly $200 billion in annual crypto transactions in 2025, a volume that dwarfs the rest of the region, according to blockchain analytics firm Chainalysis. Much of that activity is driven by practical need. Years of severe lira devaluation and high inflation have pushed Turkish citizens toward digital assets, with demand increasingly driven by inflation hedging and value preservation rather than speculation.

Ripple director Reece Merrick has pointed to this dynamic as central to the company's interest in the country. "Stablecoins like RLUSD will play a vital role as a stable USD alternative amid lira volatility, supporting cross-border payments and financial resilience," he said.

RLUSD's Rapid Growth

RLUSD has reached a $1.72 billion market cap in less than a year, with more than $18 billion in transfer volume in Q1 2026 alone. The growth from $132 million a year ago to over $1.6 billion is real, with roughly $370 million added to its circulating supply in April alone. RLUSD is backed by reserves including U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents.

Türkiye is not the only market on Ripple's radar. Ripple has identified Turkey, Nigeria, and the UAE as priority markets for the global expansion of $RLUSD. Stablecoin transaction volume reached $33 trillion in 2025, double Visa's annual volume, with 72% year-over-year growth. Ripple says demand for regulated, enterprise-grade stablecoins continues to rise as traditional financial institutions deepen their engagement with blockchain infrastructure.

Sources
U.Today: Ripple 'Extremely Bullish' on Turkey, Exec Says
24/7 Wall St.: RLUSD Just Crossed $1.6 Billion Market Cap
Business Wire: Ripple and OKX Partner to Expand RLUSD Access and Global Liquidity