Ripple has announced the launch of 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 such as Uphold, Bitso, MoonPay, Archax, and CoinMENA. Ripple plans further expansion with upcoming listings on platforms like Bitstamp, Bullish, Mercado Bitcoin, and Independent Reserve. The company assures that each RLUSD token is fully backed by U.S. dollar deposits, government bonds, and liquid cash equivalents. To maintain trust and transparency, Ripple will publish monthly attestations by an independent auditing firm to verify RLUSD's reserves.
Enterprise-Grade Design for Global Use
RLUSD is designed with trust, compliance, and utility as its core values. The stablecoin is launched under the New York Department of Financial Services limited-purpose trust company charter. Future plans include the integration of RLUSD into Ripple Payments, a move expected to increase efficiency, lower costs, and streamline settlement processes for the enterprise clients.
Bridging Fiat and Crypto
A key feature of RLUSD is its ability to bridge traditional fiat currencies with the growing world of cryptocurrency. The stablecoin is designed for seamless on-ramping and off-ramping between fiat and digital assets, offering a liquidity solution for remittance and treasury operations.
Ripple aims to expand RLUSD's use in real-world applications, including serving as collateral for tokenized real-world assets like commodities and securities. This is expected to play a significant role in the evolution of blockchain-based financial systems.
