Ripple’s RLUSD Stablecoin Finds a Real-World Use Case in Kenya
2025-07-11 07:38:07
Main Idea
Ripple's RLUSD stablecoin was successfully used in a drought insurance pilot in Kenya, covering 517 pastoralists, with 70% being women, and BNY Mellon was named as its primary custodian.
Key Points
1. Ripple's RLUSD-based drought insurance pilot in Kenya insured 517 pastoralists, 70% of whom were women.
2. No payouts were triggered during the pilot period due to favorable conditions, and unused RLUSD was rolled into the next phase.
3. The next phase targets Laikipia County, Kenya, aiming to cover 533 individuals with a funding target of $40,000.
4. BNY Mellon was named as the primary custodian of RLUSD, signaling traditional banks' acceptance of digital assets.
5. RLUSD's market cap is $501 million, with a 150% spike in trading volume in the past 24 hours.
Description
Ripple’s RLUSD-based drought insurance pilot covered 517 pastoralists in Kenya, with 70% being women. No payout was triggered due to favorable vegetation conditions, allowing RLUSD funds to roll into the next high-risk season. The upcoming campaign, targeting 533 participants, is backed by Ripple and legacy funds from Mercy Corps Ventures and Arbitrum. Ripple’s innovative blockchain-based insurance pilot in Kenya has wrapped up its first phase that was conducted in partnership with DIVA Donate, ...
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