Ripple has officially announced the launch of its new stablecoin, Ripple Dollar (RLUSD). This marks a significant step in Ripple’s expansion of services in the cryptocurrency sector.
RLUSD Available on Multiple Exchanges
The new RLUSD stablecoin is now available on major global exchanges, including Uphold, Bitso, MoonPay, Archax, and CoinMENA. Ripple plans further expansion with listings on platforms like Bitstamp and Mercado Bitcoin. Each RLUSD token is fully backed by U.S. dollar deposits, government bonds, and cash equivalents.
Design for Enterprise Use
Ripple CEO Brad Garlinghouse highlighted that RLUSD is designed with a focus on trust, compliance, and utility. The stablecoin is launched under the New York Department of Financial Services license. RLUSD's integration into Ripple's payment system is expected to increase efficiency and reduce costs in international money transfers.
Bridging Fiat and Crypto
One of RLUSD's key advantages is its ability to bridge traditional fiat currencies with cryptocurrencies, ensuring seamless on- and off-ramps between them. The stablecoin is also optimized for use in decentralized finance (DeFi) protocols, offering more flexibility for users and developers.
The launch of RLUSD strengthens Ripple's position as a leading player in the digital asset market, opening new opportunities for integrating fiat and crypto financial systems.
