Transak, a leading Web3 payment infrastructure provider, has announced the integration of Ripple's stablecoin RLUSD, expanding its accessibility for users.
Availability of RLUSD on Transak
Users from over 150 countries can now directly purchase RLUSD using fiat currencies through bank transfers, credit cards, and other popular payment methods on the Ethereum blockchain.
Features and Compliance of RLUSD
RLUSD was originally designed for enterprise solutions such as global settlements and treasury management. It is issued under a New York trust charter and regulated by the New York Department of Financial Services (NYDFS). Each RLUSD token is 1:1 backed by US dollars and cash equivalents, with assets held in a segregated reserve.
Ripple's Strategy in the Stablecoin Sector
RLUSD was launched earlier this year as part of Ripple’s strategy to enter the stablecoin sector. Unlike algorithmic or offshore-issued stablecoins, RLUSD offers transparency and legality, making it attractive to institutional clients.
The integration of RLUSD into Transak marks an important step in ensuring access to stablecoins for users worldwide and strengthens Ripple's position in the space.
