Ripple has partnered with three cryptocurrency platforms in Turkey to increase the use of its stablecoin, RLUSD.
The company also announced a new partnership with Istanbul Technical University (ITU) as part of its worldwide University Blockchain Research Initiative (UBRI).
Expansion to Turkey
Ripple, the company behind the cryptocurrency XRP, has launched its USD-backed stablecoin for institutional investors in Turkey. This was made possible through partnerships with local exchanges BiLira, Bitexen, and Bitlo. According to Jack McDonald, a Ripple executive, Turkey is a key location where traditional finance and the digital economy meet, and it’s one of the world’s fastest-growing cryptocurrency markets.
We’re helping Turkish businesses connect to the global financial system by offering a reliable digital asset backed by the US dollar. It’s fully transparent and operates within a clear regulatory framework.
Alphan Göğüş, CEO of Bitexen MENA, explained that this partnership is just the beginning, marking the first phase of a larger expansion plan for the Bitexen Global platform.
Investing in RLUSD supports our goal of offering reliable, US dollar-based financial tools in a way that follows regulations and can easily grow with demand, according to a spokesperson.
Sinan Koç, co-founder of BiLira, believes their stablecoin can significantly boost blockchain use in Turkey. Turkey is already a major force in the crypto market, handling around $200 billion in transactions each year – more than any other country in the Middle East and North Africa, according to a 2025 Chainalysis report.
Bitlo CEO Mustafa Aplay explained that their partnership with Ripple will give Turkey’s crypto community a safe and direct connection to financial markets around the world.
We’re giving our customers a reliable, high-quality digital dollar – RLUSD – that meets the strict requirements of businesses,” he said.
Ripple launched its stablecoin at the end of 2024, and it’s quickly gained traction. Major players like Binance, OKX, and BNY Mellon – the oldest bank in the US – have already adopted it. Currently valued at about $1.81 billion, RLUSD is now the 48th largest cryptocurrency by market capitalization.
Another Partnership
Ripple has expanded its partnerships to include BiLira, Bitexen, Bitlo, and Istanbul Technical University (ITU). This new collaboration, financed through RLUSD, will fund cutting-edge research and provide graduate student scholarships. Importantly, it will also establish an XRP Ledger (XRPL) validator directly at the ITU campus.
Ripple and the ITU are working together to give Turkish students and researchers the tools and knowledge they need to lead the way in blockchain technology. They’re combining university research with practical experience building decentralized systems.
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2026-06-02 14:42