XRP partners with South Africa's Absa Bank to accelerate RLUSD expansion.
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Absa Bank plans to leverage Ripple's technology to strengthen its cryptocurrency custody infrastructure and expand its market presence with regulated asset trading services. In particular, by offering custody services, including Ripple's stablecoin RLUSD (RippleUSD), the expansion of cryptocurrency payment infrastructure within the African financial sector is expected to accelerate.
Ripple has already commercialized RLUSD in the US and major Asian markets, and this expansion into Africa further strengthens its regulatory approval portfolio across more than 60 jurisdictions. The company stated that it will "enhance financial inclusion in Africa and expand connectivity in the global remittance and payments market."
Meanwhile, the cryptocurrency market continued its short-term bearish trend on the same day. Bitcoin (BTC) fell, retesting the $110,000 level, while XRP traded at $2.44, failing to recover the key resistance level of $2.50. Expert Rekt Fencer analyzed, "If the massive sell-off in Bitcoin and Ethereum ETFs continues, the third leg of the altcoin season is likely to be delayed for the time being."
As of the 13th, the Ethereum ETF recorded an outflow of $428.5 million (KRW 608.47 billion), while the Bitcoin ETF also saw a decrease of $326 million (KRW 462.92 billion) on the same day. While expectations for altcoin circulation remain, the delay in XRP ETF approval and its failure to break through psychological resistance are weighing on the short-term uptrend.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
