Ripple Targets Türkiye as Crypto Rules Boost $200B Transaction Market

Ripple is highlighting Türkiye as a key growth market for cryptocurrency, citing an estimated $200 billion in annual crypto transaction value. The figure reflects transaction activity rather than investments or market capitalization, and it does not specify how much of this activity was driven by the Turkish lira's pressure or demand for stablecoins.

Ripple's dollar-backed stablecoin, Ripple USD (RLUSD), became available to institutions in Türkiye through BiLira, Bitexen, and Bitlo on June 2, 2026. Earlier, Garanti BBVA Kripto announced a collaboration with Ripple and IBM on Oct. 23, 2024, expanding a pilot service to its entire customer base. The platform, which had over 14,000 users at the time, allows customers to custody, transfer, and convert Bitcoin (BTC), Ether (ETH), and XRP.

Türkiye's Capital Markets Board implemented rules for crypto service providers on March 13, 2025, covering establishment, operations, capital adequacy, and other services. Ripple's Managing Director for the Middle East and Africa, Reece Merrick, noted in an Oct. 5, 2026, post that stablecoins like RLUSD address a genuine demand for regulated, dollar-backed liquidity in the region.