Ripple partners with RedDotPay to launch RLUSD-based international remittance service... significantly reducing remittance fees to Nigeria.

Source: TokenPost Original Title: Ripple teams up with RedDotPay to launch real-world use of RLUSD remittances… 'Cost reduction effect' in Nigeria Original Link: Ripple has formed a strategic partnership with the fintech company RedotPay( to expand the real-world use cases of its stablecoin RLUSD. This collaboration is expected to be a key example of bridging blockchain and traditional financial infrastructure.

The companies announced the introduction of a new feature for 'cryptocurrency remittance, receiving Nigerian Naira ) NGN ('. Users can send various cryptocurrencies such as XRP and Bitcoin, and the amount will be automatically converted into Naira and deposited into the recipient's account within minutes. This process speeds up remittance and significantly reduces fees. The existing remittance fee averaged 6.94%, but by utilizing the RLUSD-based system, immediate payments can be made at minimized costs.

This system focuses on solving the remittance problems faced by freelancers, digital nomads, and small businesses working abroad. The supported assets include not only XRP and RLUSD but also major stablecoins such as Bitcoin)BTC(, Ethereum)ETH(, Circle)USD(, Tether)USDT(, as well as Solana)SOL(, Tron)TRX(, Ton)TON(, and Binance Coin)BNB(.

Both companies plan to accelerate their efforts to target the payment market centered on real use. In particular, RLUSD is demonstrating its presence with a full-fledged partnership strategy at a time when expanding market share is crucial. Recently, RLUSD has surpassed 6,500 holders and is gaining momentum, with trading volume increasing by over 65% in the last 48 hours.

Ripple's Chief Information Security Officer Akshay Wattal) stated, “Our cryptographic technology and regulatory compliance framework are the foundation of trust and distribution for RLUSD,” and explained, “We will continuously strengthen the trust system that protects user assets in the tokenized economy.”

This partnership is expected to provide substantial momentum for Ripple's global expansion strategy of RLUSD. It remains to be seen whether RLUSD can carve out a niche based on real use in the stablecoin market, which is dominated by existing heavyweights like USDC and USDT.

Market Interpretation

Ripple is actively expanding its real-use case partnerships to differentiate RLUSD from existing stablecoins. The collaboration with Redot Pay serves as a key example to support this, providing RLUSD with an opportunity to gain practical competitiveness in the remittance market.

Strategic Point

1. Secure an advantage in cost and time compared to existing remittance channels.
2. Proactive expansion into high-growth emerging markets such as Nigeria
3. Expanding flexibility by supporting major cryptocurrencies in parallel

Terminology Overview

• RLUSD: A dollar-pegged stablecoin issued by Ripple
• NGN: Nigeria's official currency 'Naira'
• RedotPay(RedotPay): A fintech company centered around stablecoins, providing real-time exchange and remittance infrastructure.