According to a statement on October 15th, Ripple has officially announced the exchange partners that will support the new Ripple USD (RLUSD) stablecoin.
According to the release, RLUSD will be available globally to institutions and users on major cryptocurrency trading platforms such as Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.
The company also confirmed that major market makers such as B2C2 and Keyrock will ensure liquidity for RLUSD and facilitate its widespread adoption.
RLUSD aims to serve enterprise customers by offering a combination of the stability associated with fiat currencies and the efficiency of blockchain technology. Its main use cases include cross-border payments, fiat on/off ramps, and tokenization of real-world assets.
Ripple’s decision to launch RLUSD on both the XRP Ledger (XRPL) and Ethereum demonstrates the company’s commitment to providing developers and users with a compliant and reliable stablecoin. Each RLUSD token maintains a 1:1 parity with the US dollar and is fully backed by dollar reserves, US Treasury securities, and cash equivalents.
Although the asset is still in private beta mode, its supply has reached around $60 million, with 33.75 million RLUSD currently on the XRPL network and the rest on Ethereum, according to CryptoQuant data.
Ripple CEO Brad Garlinghouse emphasized that strong exchange partnerships, clear utility, and growing demand position RLUSD as the benchmark for enterprise-grade stablecoins. He said the company’s decision to introduce a new stablecoin is in response to the market’s growing interest in stablecoins that offer robust solutions across various financial sectors, including payments and tokenization. added.
Garlinghouse also emphasized that RLUSD complements Ripple’s existing product suite, particularly in the area of cross-border payments.
“Our payment solutions leverage RLUSD, XRP and other digital assets to enable faster, more reliable and cost-effective cross-border payments.”
RLUSD Advisory Committee
In addition to the launch, Ripple has formed an RLUSD Advisory Board to guide RLUSD’s market entry and growth.
The board of directors includes prominent figures such as former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Baer, former CENTER consortium CEO and JPMorgan executive David Puth, and Ripple co-founder Chris Larsen. are.
Puth said stablecoins are important in bridging traditional finance and crypto markets because they provide the stability needed for institutional transactions while benefiting from blockchain technology’s ability to increase transparency and efficiency. He pointed out that there is.
Baer added that RLUSD is expected to play an important role in modernizing financial infrastructure and expanding financial inclusion as the digital economy continues to evolve.
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