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VivoPower International’s electric-vehicle arm, Tembo, will start accepting Ripple USD (RLUSD) for payments, a move that could change how the company handles cross-border deals, a press release confirmed.

According to the company, the stablecoin will be used to speed up payments and cut the fees usually tied to bank wires.

Tembo Adopts RLUSD For Global Payments

Tembo serves clients in mining, agriculture, military, construction and humanitarian work. Many of those customers are in developing regions where bank transfers are slow and costly.

Based on reports, RLUSD can move value near-instantly across borders and at a fraction of the cost of traditional methods. That is the main reason VivoPower gave for the change.

The Vehicles And The Services Around Them

Tembo builds electric utility vehicles designed for both on-road and tough off-road tasks. The fleet is aimed at jobs where reliability matters more than style.

Charging, financing, battery swaps and even microgrids are offered alongside the vehicles. Those services are now available to be paid for in RLUSD, which could make transactions simpler for local dealers and international buyers alike.

$VVPR – VivoPower’s
Tembo to Accept Ripple USD (RLUSD) Stablecoin for Payments
Partners with Doppler Finance for Institutional XRP and RLUSD Yield Programs: Maximizing Returns on Crypto Treasury Strategy
Low Float/ OS near 4.5M shares

1.1% PreM/ $5.02 pic.twitter.com/Z6rUJ9G3nz

— John Zidar aka/ Stock Wizard (@JohnZidar) September 8, 2025

Ripple Partnerships And Market Moves

Reports have disclosed that RLUSD’s market capitalization rose roughly 10-fold since January. Ripple has been extending RLUSD’s reach through tie-ups with firms such as Chipper Cash, Yellow Card and VARL, and it recently rolled RLUSD into the Horizon RWA market owned by Aave.

Those moves are being watched closely by firms that handle cross-border trade. Adoption in Africa, parts of Southeast-Asia and the Middle East is reported to be growing.

Total crypto market cap at $3.87 trillion on the daily chart: TradingView

VivoPower’s Broader XRP Strategy

VivoPower has been clear that this is more than a single payment option. The company said it is shaping itself into what it calls an XRP-focused digital asset enterprise.

Holdings in XRP and equity in Ripple Labs are being added to the corporate portfolio. Some of those assets are being held for treasury purposes.

Other parts are planned to support decentralized finance infrastructure and real-world blockchain use cases connected to Tembo’s business.

Implications For Treasury, Liquidity And Local Markets

Market observers have pointed to links with institutional sponsors like Doppler Finance, suggesting RLUSD could play roles beyond payments — for liquidity management and corporate treasury planning.

If that happens, the stablecoin may be used as a bridge between fiat rails and DeFi tools in places where traditional banking is weak.

Vendors and partners in regions where Tembo operates could see faster settlements and fewer conversion fees.

Featured image from Westend61/Getty Images, chart from TradingView

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Ripple has identified Africa as the next major growth market for its US dollar-backed RLUSD stablecoin.

On Sept. 4, Ripple announced that it has partnered with fintech firms Chipper Cash, VALR, and Yellow Card to make RLUSD more widely accessible across the continent.

This initiative marks Ripple’s latest move to position RLUSD as a practical tool for payments and settlements in regions with limited access to reliable financial infrastructure.

Already, Ripple is using the digital asset for social impact projects across the continent.

In Kenya, one program focuses on climate-related challenges, where Ripple provides drought insurance by holding funds in escrow accounts that are automatically disbursed to farmers when satellite data indicates severe water shortages.

A second pilot applies the same principle to rainfall, offering payouts when flooding or heavy storms disrupt livelihoods. Both projects use smart contracts to guarantee transparency and speed, reflecting how stablecoins can serve purposes beyond trading and speculation.

Jack McDonald, Ripple’s senior vice president for stablecoins, said the token has already carved out a role in institutional use cases. These range from payment solutions and tokenization projects to serving as collateral in both crypto and traditional markets.

He added:

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“We’re seeing demand for RLUSD from our customers and other key institutional players globally and are excited to now begin distribution in Africa through our local partners.”

Since launching earlier this year, RLUSD has gained momentum, reaching a market capitalization of more than $700 million.

Africa’s stablecoin market

Ripple’s push comes when stablecoins are becoming more prominent on the African continent.

A recent study from Yellow Card found that stablecoins made up 43% of crypto transaction volume in Sub-Saharan Africa.

Another report from the International Monetary Fund estimated that stablecoin flows reached nearly 7% of the region’s total GDP for last year.

According to these reports, stablecoins have become the backbone of digital asset activity on the continent as businesses and individuals increasingly rely on them to bypass foreign-exchange shortages, reduce settlement delays, and perform international transactions.

The reports showed that Tether’s USDT plays a dominant role on the continent, processing more than half of the total transactions.

Mentioned in this article

Enterprise blockchain company Ripple has minted an additional 10 million tokens, according to the most recent data. 

This is the first minting event that has been recorded so far during September. 

Prior to this, Ripple issued an additional 15 million tokens on Aug. 29. 

Last August, the company minted a total of 60 million tokens, with the vast majority of these tokens being launched on the Ethereum network. At the same time, 20 million RLUSD tokens were burned (permanently removed from circulation) during the same period of time, meaning that there were an additional 40 million RLUSD tokens. 

$700 million milestone 

According to CoinGecko data, the market cap of RLUSD currently stands at $711 million. 

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It took Ripple a little over a month to add an additional 200 million tokens. As reported by U.Today, the highly regulated stablecoin, which was initially launched in December, managed to surpass $500 million in total assets in late July. 

Top 5 remains out of reach 

As reported by U.Today, Ripple executives have repeatedly stated that they had aimed to reach the top 5 of the biggest stablecoins by the end of the current year. 

However, this target remains far-fetched for the stablecoin despite Ripple’s latest minting spree. 

RLUSD is on track to record PAX Gold (PAXG), which currently has a market cap of $1 billion. 

Ripple’s stablecoin will also have to catch up with PayPal’s PYUSD, which currently boasts a market cap of nearly $1.2 billion. 

After this, RLUSD would have to surpass six more stablecoins in order to break into the top 5, which does not seem feasible in 2025. 

Ripple’s stablecoin RLUSD grew 32.3% in supply between June and July, surpassing $600 million.

This was the second most significant growth in supply among stablecoins with over $500 million in supply growth, lagging only Ethena Labs’ USDe, which grew 63.4% in the same period.

RLUSD has been in a strong growth trend since May, nearly doubling its supply as of July 31. The stablecoin’s market cap jumped from $309 million to $455.3 million between May and June, an over 47% increase. In August alone, it had already grown 3%.

Furthermore, RLUSD surpassed $11 billion in cumulative transfer volume in 2025. The stablecoin registered a new monthly all-time high in July, with $3.3 billion in volume across different venues, an amount 27% larger than June.

Notably, RLUSD has never dipped below $1 billion in monthly trading volume since April, when it crossed this threshold for the first time by registering $1.8 billion in volume.

The growth occurred in the same month that Ripple made efforts to increase RLUSD’s market share.

First, Ripple CEO Brad Garlinghouse announced the company was seeking a national banking charter for RLUSD. In addition to the stablecoin’s registry with the New York Department of Financial Services, this would make RLUSD the first stablecoin under state and federal oversight in the US.

On July 9, Ripple announced BNY Mellon as its custodian partner.

The company then moved to a multi-pronged global strategy to expand RLUSD’s market share. In the United States, the Federal Reserve’s formal adoption of the ISO 20022 messaging standard rewarded Ripple’s positioning as the first blockchain-focused company to join the ISO 20022 Standards Body in 2020.

At the same time, Ripple is reportedly advancing a significant entry into the European market by making RLUSD MiCA-compliant, anchoring the effort with a strategic base in Luxembourg.

However, not everyone is convinced that RLUSD’s growth is organic. Blockchain investigator ZachXBT questioned if Ripple’s stablecoin user base was authentic, before deleting its social media post.

Voicing his concerns differently, the investigator said he trusts other stablecoin issuers “infinitely more than Ripple,” such as Circle, Paxos, and Tether.

Mentioned in this article

The blockchain payments firm Ripple says it has agreed to acquire the stablecoin-powered payment infrastructure platform Rail for $200 million.

In a statement, Ripple says it is acquiring the Toronto-based Rail amid rising demand for transactions involving stablecoins – cryptocurrencies pegged to another asset such as the US dollar.

Ripple says the deal will allow the two companies to deliver the most comprehensive stablecoin payments solution available in the market.

Ripple says the acquisition will enable customers to adapt to the rising popularity of stablecoins by offering comprehensive stablecoin pay-ins and pay-outs across key corridors, sans the need to hold crypto on balance sheets.

The integration will also support payments across a range of digital assets, which include XRP and Ripple USD (RLUSD), the US dollar-backed cryptocurrency that the San Francisco-based firm launched in December 2024.

Says Ripple President Monica Long,

“Stablecoins are quickly becoming a cornerstone of modern finance, and with Rail, we are uniquely positioned to drive the next phase of innovation and adoption of stablecoins and blockchain in global payments.”

Announcing the development in a post on the social media platform X, Ripple CEO Brad Garlinghouse says the team-up will create a powerhouse in the stablecoin market.

“Ripple + Rail together will be THE go-to provider of stablecoin payments infrastructure for global financial institutions around the world.”

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Tanzeel Akhtar

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Tanzeel Akhtar is a seasoned journalist who has been reporting on cryptocurrency and blockchain technology since 2015. Her work has appeared in leading publications including The Wall Street Journal,…

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July 9, 2025

Ripple has appointed the Bank of New York Mellon Corporation (BNY Mellon) as the primary custodian for its enterprise-grade stablecoin, Ripple USD (RLUSD).

According to Ripple this is a step forward to driving institutional adoption of digital assets, with BNY Mellon growing its role in bridging traditional finance and the digital asset space.

RLUSD: Built for Institutional-Scale Use

RLUSD stands out in the crowded stablecoin market for its focus on regulatory compliance, transparency, and enterprise utility.

Issued under a New York Department of Financial Services (NYDFS) Trust Company Charter, RLUSD is designed to meet the operational and risk requirements of financial institutions. RLUSD aims to improve the speed, cost, and efficiency of cross-border payments.

BNY Mellon Brings Proven Custody Infrastructure

By choosing BNY Mellon as the primary reserve custodian, Ripple said it is leaning on the bank’s expertise in digital asset infrastructure. BNY will provide not only custody services but also transaction banking capabilities that support RLUSD’s operations.

The partnership builds on BNY’s track record in stablecoin servicing and reflects its strategic interest in enabling interoperability between digital and traditional financial systems.

“BNY brings together demonstrable custody expertise and a strong commitment to financial innovation in this rapidly changing landscape,” said Jack McDonald, SVP of Stablecoins at Ripple.

“This makes it the ideal partner for Ripple and RLUSD.”

A Step Forward in Digital Asset Integration

This latest partnership is a shift in how legacy financial institutions are responding to the digital asset revolution. BNY Mellon’s involvement strengthens the credibility of RLUSD.

“As primary custodian, we are thrilled to support the growth and adoption of RLUSD by facilitating the seamless movement of reserve assets and cash to support conversions,” said Emily Portney, Global Head of Asset Servicing at BNY.

Swiss Bank Embraces Ripple’s RLUSD

Switzerland-based AMINA Bank became the first international lender to offer custody and trading services for Ripple’s RLUSD stablecoin.

XRP is also up by an impressive 400% in the past year, making it one of the best-performing top-100 coins within this timeframe. And with XRP ETFs likely to gain approval later this year, the long-term XRP price prediction continues to look very encouraging.

In the past day, Zug-based AMINA has revealed that it has become the first bank in the world to support RLUSD, with the Swiss lender planning to expand its related services in the coming months.

Other RLUSD expansion news includes the stablecoin also gaining regulatory approval from Dubai’s financial regulator.

Amina Bank, a financial institution focused on Swiss Crypto, has announced that it will provide custody and trading services to Ripple’s RLUSD Stablecoin.

On July 3, 2025, Crypto Bank, regulated by Swiss Finma (financial market regulator), said in a press release:

Commenting on the development, Myles Harrison, Chief Product Officer of Amina Bank, said, “We are proud to be the first bank to support RLUSD and give our clients access to one of the most anticipated digital assets on the market.”

In: Becomes the first global bank supported by Switzerland-based Amina Bank @rippleNew Stablecoin $ rlusd -Coindesk

strong #xrp pic.twitter.com/e0ehfaah7x

– amonyx (@amonbuy) July 3, 2025

“Ripple’s commitment to transparency and compliance will be an ideal collaborator as we continue our mission to expand agency-grade digital asset services,” added Harrison.

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Amina targets institutional clients and professional investors

Additionally, Amina plans to expand its RLUSD-related services in the coming months. This reflects the growing demand for digital assets in the financial sector. Importantly, Switzerland has established itself as a global leader in crypto innovation, and Zug is often referred to as the “Crypto Valley.”

“Our goal is to bridge the gap between traditional banking and the emerging world of digital assets, providing clients with secure, regulated access to innovative financial products,” said Amina Bank CEO.

Therefore, banks that have developed Ripple stubcoin can encourage other Switzerlands And then the international banks chase the lead.

Discovery: Next 1000x Ciphers: 10+ Ciphers tokens that could hit 1000X in 2025

U.S. Bank License Ripple Files for XRP and RLUSD

Ripple drives power

➤ $ xrp Breaking down trends for several months

➤ $ rlusd Supported by Amina Bank

➤ Ripple applies to US Bank Charters

XRP is becoming part of the US banking system. pic.twitter.com/0ak9cdib9f

– Alexia (@alex1i9) July 4, 2025

In particular, the company behind XRP has applied for a national banking charter in the US, aiming to put RLUSD Stablecoin directly under federal oversight. this It’s not just about checking the boxes. This is a strategic attempt to give RLUSD a stronger foundation. It also opens the door to a deeper role in the financial system. If approved, the Ripple Banking license allows the company to retain its Fed and direct RLUSD reserves.

Ripple CEO, Blood Girling House, RLUSD has publicly confirmed the application, noting that it is already operating under New York’s financial regulator. Obtaining a national charter through the Office of the Secretary of Currency (OCC) will expand its coverage and state-level approval will blend federal government credibility. It is also a signal to investors, regulators and institutions who want RLUSD. I’ll be taken away Seriously.

Read more: US Bank License Ripple Files for XRP and RLUSD

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BitGo chief executive Mike Belshe used his podium at American Banker’s Digital Banking 2025 conference to deliver a blunt verdict on Ripple’s decade-old settlement playbook: the plan to make XRP a universal bridge currency has failed, and Ripple’s newly issued US-dollar stablecoin RLUSD is the proof.

Ripple Made RLUSD Because XRP Isn’t Needed

Speaking in a session on banking access for digital-asset firms, Belshe opened with an appeal for direct Federal Reserve accounts before pivoting to Ripple’s history. “As a stablecoin business, you don’t need it, but do you want a master account? … We’d love a Fed master account, then we get to skip the banks.”

From there he walked the audience back to 2014: “So if you go back in time in digital assets about ten years, there’s this company Ripple… They had originally decided they were going to try to tackle cross-border payments by use of their XRP token.”

Belshe then dissected the two-step conversion model—dollars into XRP, then into pesos—arguing that the extra hop doomed the scheme. “It turns out that’s two conversions, right? And USD stablecoins are just better. So in fact, Ripple just launched a stablecoin, a US-dollar-backed stablecoin.”

Stablecoins, he contended, will become the “rails across the world,” sweeping aside tokens whose only advantage is theoretical bridge liquidity. He painted an everyday retail scenario—phones tapped at farmers’ markets, interest airdropped monthly—and concluded: “It just works. It’s super simple. Peer-to-peer plus peer-to-intermediary.”

While Belshe spoke, RLUSD is quietly growing. Ripple introduced the token last December after securing New York DFS approval; by 2 April it had been integrated into Ripple Payments and had already reached a market capitalization of $244 million. Continued issuance on Ethereum pushed supply higher: on 21 June Ripple minted another 14 million RLUSD, lifting circulation toward $450 million. CoinMarketCap’s real-time dashboard now shows roughly $429 million outstanding, with daily volumes above $84 million.

Ripple rejects the premise that adopting a dollar token concedes defeat for bridge token. In a series of posts and interviews earlier this year, Ripple CTO David Schwartz argued that RLUSD supplies price-stable working capital while the token remains the ledger’s default auto-bridging asset, handling path-finding and liquidity between non-dollar pairs. Community analysts amplified the point on X, contending that RLUSD “broadens the ecosystem” rather than replaces its native coin.

Reactions to Belshe’s talk split sharply. Popular community member Crypto Eri (@sentosumosaba) who shared the video, commented via X: “This is why XRP needs: 1. SPOT ETFs 2. XRPFi 3. XRP Treasury Strategies 4. More Innovators & Builders. USD Stablecoins = LESS Conversations and therefore eating up the payments world.”

One critic mocked the clip as “comedy gold,” saying it confirmed what skeptics have argued all along.” run the juels (@nullpackets) commented: “Thanks for giving your 275K followers a chuckle on a Sunday morning like this. We all need to laugh more. Oh man, this is xrp’er comedy gold. With no sense of self-awareness – unironically posting a video that says what we’ve been saying all along – xrp bridge currency cumbersome and not needed. Tokenization and stablecoins obsolete bridge currencies. Study LINK.”

At press time, XRP traded at $2.02.

Featured image created with DALL.E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.