Ripple announced the launch of its stablecoin Ripple USD (RLUSD), offering blockchain technology benefits while maintaining the stability of the US dollar.
RLUSD Available on Global Exchanges
RLUSD is available on major global exchanges such as Uphold, Bitso, MoonPay, Archax, and CoinMENA. Ripple plans additional listings on platforms like Bitstamp and Bullish. The company ensures each RLUSD token is fully backed by US dollar deposits, government bonds, and liquid cash equivalents. Monthly attestations by an independent auditing firm will provide transparency of RLUSD's reserves.
Enterprise-Grade Design for Global Use
According to Ripple CEO Brad Garlinghouse, RLUSD is designed with trust, compliance, and utility at its core. Issued under the NYDFS limited-purpose trust company charter, RLUSD aims to offer real utility and streamline payment processes for enterprise clients globally as clearer digital asset regulations develop.
Bridging Fiat and Crypto
One of RLUSD's key advantages is its ability to bridge traditional fiat currencies with the world of cryptocurrency. Optimized for cross-border payments, RLUSD offers rapid transaction settlement and reduces the costs of traditional money transfers. Future plans include using the stablecoin as collateral for tokenized assets, enhancing its role in blockchain-based financial systems.
The launch of RLUSD marks a significant step forward for Ripple in the cryptocurrency space, providing users with a new tool for global payments and integration with the traditional financial system.
