Ripple Concludes Pilot In Kenya Using RLUSD
2025-07-12 01:37:48
Main Idea
Ripple has concluded a pilot program in Kenya using its stablecoin RLUSD for drought-insurance, demonstrating its potential in aid distribution and programmability.
Key Points
1. Ripple's RLUSD was used in a four-month drought-insurance pilot in Laikipia North, Kenya, insuring 517 pastoralists (70% women).
2. The pilot, in partnership with Mercy Corps Ventures and DIVA Donate, escrowed donations in RLUSD on Ethereum, releasing funds only if satellite-derived NDVI readings fell below a threshold.
3. No drought occurred during the pilot, so the RLUSD pool will carry forward for the next dry season starting in October.
4. The next phase aims to expand the program to 533 herder households and raise $40,000, supplemented by unspent funds from earlier initiatives.
5. The pilot serves as a real-world test of RLUSD's programmability, with BNY Mellon as the primary reserve custodian.
Description
The first field deployment of Ripple’s US-dollar stablecoin, RLUSD, as a drought-insurance rail has wrapped up in Laikipia North, Kenya. According to an update from Ripple Impact, the four-month “anticipatory aid” experiment insured 517 pastoralists—roughly 70 percent of them women—against feed shortages that typically emerge after the long-rains season. Ripple Tests RLUSD in Kenya Aid Pilot Ripple disclosed the outcome in a post on X: “The Ripple Impact drought insurance pilot in Kenya conclude...
Latest News
- China Softening On Crypto? Shanghai Hosts Rare Digital Currency Policy Meeting2025-07-12 05:33:42
- TRON’s Justin Sun Goes Head To Head With Elon Musk Over Trump — Here’s What We Know2025-07-12 03:12:41
- Ripple Concludes Pilot In Kenya Using RLUSD2025-07-12 01:37:48
- Tokenized Assets? SEC Says They Still Fall Under Securities – ‘Crypto Mom’ Speaks2025-07-12 00:52:47
- XRP ETF Race Heats Up: Why July 14, July 21, And July 25 Are Important2025-07-11 22:51:53