As Ripple continues to expand its ecosystem through partnerships with numerous large global companies, this San Francisco-based blockchain firm has once again completed an integration with a major cryptocurrency company.
Earlier today, Inveo Kripto, a major cryptocurrency platform in Turkey hosted by a bank, revealed that it has reached a new partnership with Ripple to launch the stablecoin RLUSD on its platform.
RLUSD goes live on Inveo Kripto.
According to the latest collaboration with that company, RLUSD has officially launched on an encrypted asset platform hosted by a bank in Turkey for the first time.
This advancement marks an important expansion of Ripple. Retail and institutional investors in Turkey can now access its native, US dollar-pegged stablecoin through multiple trading channels.
After going live, Inveo Kripto indicates that RLUSD can now be used through its mobile applications, web platform, as well as over-the-counter (OTC) trading (OTC) services.
The company also confirmed that it has completed the integration with Ripple and successfully executed the first RLUSD transaction. This move is expected to lead to broader adoption of the stablecoin among Turkish investors.
The report also states that this could lead to more trading activities, thereby promoting the growth of RLUSD in the stablecoin market.
RLUSD Trading is now available in Turkey.
With RLUSD now launched in Turkey, local retail investors can now trade RLUSD through the mobile and web platforms of Inveo Kripto.
In addition, institutional investors and other platforms can also obtain the liquidity of RLUSD through the company's over-the-counter trading services.
Therefore, market participants from different categories will be able to access RLUSD through this bank custody platform, which may enhance efficiency in trading, payments, and digital asset settlement.
