Ripple USD (RLUSD) has received a significant update with its integration with Transak, allowing users to purchase the stablecoin using various fiat currencies.
Transak's Support for Ripple USD
Transak has integrated support for Ripple USD, allowing 8.3 million users to purchase the stablecoin with multiple fiat currencies. "We worked closely with the Ripple team to understand how RLUSD could benefit from wider distribution across Transak's global network," said Harshit Gangwar, Transak's head of marketing.
Availability of Ripple USD Across Countries
RLUSD is available across all 64 countries supported by Transak. This includes key markets like the United States, the United Kingdom, and the European Union. The integration took about three months to ensure regulatory compliance across markets.
BNY Mellon Selected for Custody
On the same day, Ripple announced the selection of BNY Mellon as the primary custodian of RLUSD reserves. Emily Portney, global head of asset servicing at BNY, stated: "As primary custodian for RLUSD, we're proud to support the growth of digital assets by providing a differentiated platform designed to meet evolving institutional needs in the digital assets ecosystem."
The integration of Ripple USD with the Transak platform and the selection of BNY Mellon as the custodian highlight the growing adoption and expansion of the stablecoin in the global market.
