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Ripple is targeting Africa as a key growth market for its US dollar-backed stablecoin RLUSD, partnering with local fintech firms to enhance accessibility. The move aims to challenge Tether’s dominance and leverage stablecoins for practical financial solutions. Initiatives include climate-focused projects using smart contracts for transparency and efficiency.
- Ripple's RLUSD is being used in Kenya for climate-related insurance programs, with smart contracts automating payouts based on satellite data for droughts and floods.
- Stablecoins represent 43% of crypto transaction volume in Sub-Saharan Africa, with Tether's USDT processing over half of all transactions, per recent reports.
- RLUSD has reached a market capitalization of over $700 million and is being leveraged for institutional use cases like payments, collateral, and tokenization.
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