Ripple has officially launched its stablecoin, Ripple Dollar (RLUSD), marking a significant step in expanding its services in the cryptocurrency space.
RLUSD Available on Multiple Exchanges
RLUSD is now available on major global exchanges including Uphold, Bitso, MoonPay, Archax, and CoinMENA. There are also plans for listing on Bitstamp, Bullish, Mercado Bitcoin, and Independent Reserve in the coming weeks. Ripple assures that each RLUSD token is fully backed by U.S. dollar deposits, government bonds, and liquid cash equivalents, with monthly attestation reports by an independent auditing firm.
Enterprise-Grade Design for Global Use
According to Ripple CEO Brad Garlinghouse, RLUSD is designed with trust, compliance, and utility at its core. It is launched under the New York Department of Financial Services (NYDFS) charter. As clearer regulations for digital assets develop, Ripple expects RLUSD adoption to grow. Early next year, RLUSD will be integrated into Ripple's global payment system, enhancing efficiency and reducing costs.
Bridging Fiat and Crypto
A key advantage of RLUSD is its ability to bridge traditional fiat currencies and crypto assets. The stablecoin is optimized for cross-border payments, facilitating instant settlement and reducing costs. Ripple plans to expand RLUSD's use in real-world applications, allowing it to serve as collateral for tokenized assets.
The launch of RLUSD represents a significant milestone in the development of blockchain-based financial solutions. With the support of influential figures in the financial industry, Ripple predicts substantial growth in the use of its stablecoin.
