While much of the cryptocurrency world remains focused on the high-profile legal battle between Ripple and the SEC, the company has made quiet moves — and is no longer just about payments.
In the newly released Ripple Impact Report 2024, Ripple reveals how the company is quietly expanding into humanitarian aid, financial services for the unbanked, and practical blockchain pilot projects that could reshape how emergency funds and small businesses operate worldwide.
Ripple's impact finance strategy: $200 million deployed for good causes
Ripple Impact, now in its eighth year, has deployed $200 million for social benefit initiatives. Just in 2024, the company has expanded its focus through the Impact Finance strategy, supporting projects that use blockchain technology — particularly the XRP Ledger (XRPL) — to address financial exclusion and provide more effective aid.
Among its notable initiatives is the partnership with Mercy Corps Ventures and DIVA Donate in Kenya. Together, they launched a pilot program using Ripple's new stablecoin, Ripple USD (RLUSD), to automatically deliver emergency funds based on satellite data.
If drought threatens the livelihoods of farmers, donations of RLUSD held in smart contract-based escrow will be disbursed immediately. The initial results are promising, with a 75% reduction in transaction costs and remittances being processed over 90% faster than traditional aid systems.
RLUSD: A stablecoin designed for more than just payments
Launched in December 2024, RLUSD is Ripple's enterprise-grade stablecoin issued on both the XRP Ledger and Ethereum. While many stablecoins are designed for trading and DeFi, Ripple has built RLUSD with the purpose of encompassing finance, charity, and humanitarian aid.
The company plans to use RLUSD for cross-border cash assistance programs and other financial services in underserved areas — showing the world how stablecoins can provide lifesaving solutions beyond cryptocurrency speculation.
Supporting entrepreneurs and farmers in emerging markets
Ripple's commitment also extends to supporting small businesses and farmers through long-term partnerships with Mercy Corps Ventures. In 2024, this initiative funded eight early-stage fintech startups and launched seven blockchain pilot projects.
Such a pilot program uses the XRPL blockchain to track agricultural products from farm to market for small farmers in Colombia and Spain. This program not only improves the transparency of the food supply chain but also provides farmers access to farm supply through the 'Farm now, pay later' model, helping to increase their income and financial security.
Promoting financial inclusion through research
Ripple has also partnered with UC Berkeley's Inclusive FinTech Lab (LIFT) since 2020. This initiative supports research projects exploring how blockchain can reach 1.4 billion unbanked individuals globally.
To date, this initiative has funded 25 projects in 14 countries, connecting researchers, businesses, and policymakers to build practical, ethical blockchain solutions for those without access to traditional banking.