Ripple has confirmed its commitment to utilizing both XRP and the RLUSD stablecoin within its payment solutions framework. This announcement was made during the first day of Ripple’s Swell conference, where Ripple’s President, Monica Long, shared key details about RLUSD’s exchange partners.

RLUSD and Its Applications

The RLUSD stablecoin, once approved by the New York Department of Financial Services, will be listed on several major exchanges such as Bitstamp, Independent Reserve, Bitso, among others. RLUSD is designed for use in payments, tokenization, and decentralized finance (DeFi). The stablecoin will undergo regular independent audits to maintain transparency and trust.

Role of XRP and RLUSD in the Ecosystem

Ripple has clarified that RLUSD will not overshadow XRP in its payment solutions. Clients will have the flexibility to choose between XRP and RLUSD for their transactions, which enhances reliability and efficiency.

Progress and Challenges

RLUSD is currently in beta testing on the XRP Ledger and Ethereum networks, with a public release expected by year-end, pending approval from NYDFS. Ripple has assembled an advisory board to navigate the regulatory landscape before the mainnet launch.

Ripple is strengthening its position in the digital payments industry by integrating both XRP and RLUSD into its solutions. Upon regulatory approval, the company is poised to significantly expand its market impact.