Ripple has officially announced the launch of its own stablecoin—Ripple Dollar (RLUSD), marking a new milestone in expanding its services in the cryptocurrency arena.
RLUSD Available on Major Exchanges
RLUSD is available on major global exchanges, including Uphold, Bitso, MoonPay, Archax, and CoinMENA. Further listings on platforms like Bitstamp, Bullish, Mercado Bitcoin, and Independent Reserve are expected in the coming weeks. Ripple assures that each RLUSD token is fully backed by U.S. dollar deposits, government bonds, and liquid cash equivalents. To maintain trust and transparency, they 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 at its core. The stablecoin is launched under the New York Department of Financial Services (NYDFS) limited-purpose trust company charter. Ripple expects that as the U.S. government develops clearer regulations around digital assets, RLUSD’s increased demand will provide real utility to users worldwide. Early next year, Ripple Payments will integrate RLUSD into its global payment system, increasing efficiency, lowering costs, and streamlining settlement processes for its enterprise clients. An advisory board, including Raghuram Rajan and Kenneth Montgomery, provides strategic guidance.
Bridging Fiat and Crypto
A key advantage of RLUSD is its ability to bridge traditional fiat currencies with the growing world of cryptocurrency. The stablecoin facilitates seamless on-ramping and off-ramping between traditional finance and digital asset ecosystems. Ripple also views RLUSD as a solution to liquidity challenges faced by remittance and treasury operations, offering near-instant settlement and reducing friction in traditional money transfers. In the future, Ripple plans to expand RLUSD's use in real-world applications, where it can serve as collateral for tokenized real-world assets.
The launch of RLUSD by Ripple signifies an important step in connecting traditional and digital financial worlds, offering stability and efficiency for institutional and retail users alike.
