- Ripple USD (RLUSD) is a USD-denominated stablecoin designed for institutional use cases like payments, tokenization, and DeFi
- RLUSD is available globally through partnerships with major exchanges and platforms like Uphold, Bitstamp, Bitso, MoonPay, and Bullish.
- RLUSD leverages the XRP Ledger and Ethereum blockchains, offering developers and users a compliant and trusted USD stablecoin for decentralized applications.
Ripple, a leading provider of digital asset infrastructure for fintech, has announced the launch of Ripple USD (RLUSD) stablecoin designed for enterprise use cases. RLUSD is backed by US dollar deposits, government bonds, and cash equivalents, ensuring its stability and regulatory compliance. To boost widespread adoption, Ripple has teamed up with major global exchanges and platforms, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. These partnerships will enable institutions and users to access and utilize RLUSD globally.
Ripple CEO Brad Garlinghouse expressed confidence in RLUSD’s potential, stating, “With our initial exchange partners, the clear utility and demand for RLUSD, and a strong focus on regulatory compliance, Ripple’s stablecoin is poised to become the gold standard for enterprise-grade stablecoins.”
RLUSD is one of the few stablecoins issued under a New York Trust Company Charter, in compliance with regulatory standards. The firm has assembled a distinguished advisory board, including former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, Vice Chairman of Partners Capital and former CENTRE Consortium CEO David Puth, and Ripple co-founder and Executive Chairman Chris Larsen, to guide the responsible introduction of RLUSD to the market.
“Stablecoins will play a key role in modernizing our financial infrastructure and broadening financial inclusion,” said Sheila Bair, former FDIC Chair. “I am honored to join Ripple’s advisory board as they launch their stablecoin with a compliance-first approach.”
Ripple’s RLUSD Bridges Traditional Finance and Crypto
Delving deeper, RLUSD offers a variety of financial use cases, such as payments, tokenization of real-world assets, and decentralized finance (DeFi). It combines the stability of traditional fiat currencies with the efficiency of blockchain technology, making it a valuable tool for businesses and individuals alike.
The firm’s existing payment network, which covers over 90 markets, will be leveraged to integrate RLUSD and XRP, enabling faster, more reliable, and cost-effective cross-border payments. Additionally, RLUSD will serve as a bridge between traditional fiat currencies and the crypto ecosystem, facilitating easy conversion and reducing price volatility.
With the launch of RLUSD, Ripple aims to further solidify its position as a leader in the digital asset infrastructure space, providing innovative and compliant solutions for financial institutions worldwide.
