Ripple’s RLUSD Stablecoin Finds a Real-World Use Case in Kenya

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, successfully insuring 517 pastoralists, 70% of whom were women, using Ripple’s newly launched stablecoin RLUSD. The project demonstrates the clear potential of Web3 solutions in disaster preparedness. How RLUSD is fixing real-world problems According to a post from Ripple on X (formerly Twitter), the insurance pilot utilized satellite vegetation data to monitor drought risk over a critical season. Favorable conditions during this monitoring period meant no payouts were triggered, as satellite imagery showed sufficient vegetation to sustain livestock. The Ripple Impact drought insurance pilot in Kenya concluded, successfully insuring 517 pastoralists… The post Ripple’s RLUSD Stablecoin Finds a Real-World Use Case in Kenya appeared first on Coin Edition .

Source: Coin Edition