On December 17, 2024, Ripple officially unveiled its stablecoin, Ripple Dollar (RLUSD), marking a significant expansion of Ripple's services in the cryptocurrency sector.
RLUSD Available on Global Exchanges
RLUSD is now available on major global exchanges such as Uphold, Bitso, and others. Ripple plans for further listings on platforms like Bitstamp and Mercado Bitcoin. Each RLUSD token is fully backed by U.S. dollar deposits, government bonds, and liquid cash equivalents. Ripple will publish monthly attestations by an independent auditing firm to verify RLUSD's reserves.
Enterprise-Grade Design for Global Use
According to Ripple CEO Brad Garlinghouse, RLUSD is designed with trust, compliance, and utility in mind. The stablecoin is launched under an NYDFS charter. Ripple anticipates increased RLUSD adoption as U.S. regulations clarify. RLUSD will be integrated into Ripple's global payment system, enhancing efficiency and reducing costs.
Bridging Fiat and Crypto
RLUSD facilitates the integration of traditional fiat currencies with digital assets. It addresses liquidity challenges in cross-border payments by offering instant settlement and reducing frictions of traditional transfers. RLUSD can also integrate with DeFi protocols, offering flexibility for users and developers.
Ripple plans to expand RLUSD's use in real-world applications, including acting as collateral for tokenized assets. This could play an important role in the evolution of blockchain-based financial systems. Ripple's expanding network of payment providers will accelerate adoption in different regions.
