Ripple has forged strategic partnerships with three cryptocurrency platforms in Turkey, signaling an aggressive push to increase the adoption and utilization of its stablecoin, RLUSD. The company has also named Istanbul Technical University (ITU) as its newest collaborator in its global University Blockchain Research Initiative (UBRI).
Expanding Stablecoin Access in Turkey
The firm behind the popular cryptocurrency XRP announced that its USD-pegged stablecoin is now accessible to institutional clients in Turkey through collaborations with BiLira, Bitexen, and Bitlo. Jack McDonald, Senior Vice President of Stablecoins at Ripple, highlighted Turkey’s strategic position at the “crossroads of traditional financial and digital economy,” noting its high global rates of cryptocurrency adoption.
“By providing a stable, USD-backed asset that is both transparent and fully regulated, we are empowering Turkish businesses to access global liquidity,” McDonald stated.
Alphan Göğüş, CEO at Bitexen MENA, described the collaboration as “the first step in a broader rollout” across the Bitexen Global platform. He added, “Supporting RLUSD aligns with our strategy to provide trusted, USD-denominated instruments within a compliant and scalable framework.”
Sinan Koç, Co-Founder of BiLira, emphasized that the stablecoin is “uniquely equipped” to accelerate blockchain adoption in Turkey. The country has already established itself as a significant player in the cryptocurrency landscape, with a 2025 Chainalysis report indicating it facilitates approximately $200 billion in annual transaction volume, surpassing its rivals in the MENA region.
Mustafa Aplay, CEO of Bitlo, commented that the partnership with Ripple provides the Turkish crypto ecosystem with a direct and secure gateway to global financial markets. “By integrating a regulated, enterprise-grade stablecoin like RLUSD, we’re providing our customers with the highest standard of digital dollars for enterprise needs,” he concluded.
Academic and Research Collaboration
Ripple’s stablecoin, launched in late 2024, has seen significant traction, with major entities such as crypto exchanges Binance and OKX, and BNY Mellon, America’s oldest bank, adopting it. RLUSD’s market capitalization has recently climbed to approximately $1.81 billion, positioning it as the 48th-largest digital asset.
Beyond its commercial partnerships, Ripple has also established a collaboration with Istanbul Technical University (ITU). This initiative, funded through RLUSD, will support advanced research and graduate fellowships. Furthermore, it will lead to the establishment of an XRP Ledger (XRPL) validator directly on the ITU campus.
“By integrating academic research with hands-on decentralized infrastructure, Ripple and ITU are ensuring the next generation of Turkish researchers and students are at the forefront of blockchain innovation,” the official announcement stated.
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