Ripple Unveils Global Stablecoin RLUSD

user avatar

by Giorgi Kostiuk

2 years ago

Ripple has introduced its stablecoin, Ripple Dollar (RLUSD), launching it on global exchanges. This marks a significant expansion of the company's services within the cryptocurrency space.

RLUSD Availability on Exchanges

RLUSD is now available on major global exchanges, such as Uphold, Bitso, MoonPay, Archax, and CoinMENA. Ripple plans broader adoption with additional listings on platforms like Bitstamp, Bullish, and others. The firm assures users that each RLUSD token is fully backed by U.S. dollar deposits, government bonds, and liquid cash equivalents. To maintain trust and transparency, monthly attestations by an independent auditing firm will be published.

Corporate-grade Stablecoin Design

According to Ripple CEO Brad Garlinghouse, RLUSD is designed with trust, compliance, and utility in mind. The stablecoin is launched under the New York Department of Financial Services license. Ripple expects the adoption of RLUSD to grow as clearer digital asset regulations emerge. Early next year, RLUSD will be integrated into Ripple Payments' global payment system.

Bridging Fiat and Crypto

RLUSD acts as a bridge between traditional fiat currencies and cryptocurrencies. The stablecoin is designed to facilitate seamless on-ramping and off-ramping between traditional financial institutions and the digital asset ecosystem. It also serves as a solution to liquidity challenges in remittance and treasury operations. Additionally, RLUSD can integrate with decentralised finance protocols, offering users greater flexibility.

The launch of RLUSD is a step toward developing blockchain-based financial systems. The stablecoin's ability to be used in real-world applications opens up a wide range of possibilities for enterprises and financial institutions globally.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.