XRP
Ripple Focuses on Custody Services and RLUSD Stablecoin in Turkish Market Expansion
The blockchain company is targeting crypto demand in Turkey by promoting its dollar-backed stablecoin and custody technology rather than its native token.
Ripple is expanding its operations in Turkey by offering custody infrastructure and its dollar-pegged stablecoin, RLUSD, neither of which relies on holding XRP. The stablecoin was introduced on local exchanges BiLira, Bitexen, and Bitlo on June 2, 2026, as domestic demand for foreign-currency alternatives increased amid the falling Turkish lira.
According to a 2025 Chainalysis report cited by Ripple, Turkey generates nearly $200 billion in annual cryptocurrency transactions. While XRP traded at $1.51 on October 6—marking a 49% annual decline and a 59% drop from its peak of $3.65—RLUSD is backed by cash and short-term U.S. government debt to maintain a one-dollar valuation.
On the institutional side, Garanti BBVA Kripto has utilized Ripple's custody software since late 2024 and renewed the agreement in January 2026. Ripple also intends to run an XRP Ledger validator at Istanbul Technical University, though it has not shared operational revenue, transaction volumes, or customer figures for its Turkish business.
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