Ripple is preparing to issue a USD-denominated stablecoin, bringing together many exchange partners and customers in the digital asset industry.
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RLUSD will launch on the XRP Ledger and Ethereum blockchains, offering support for instant payments, fiat-to-crypto conversion, and tokenization of real-world assets.
Each RLUSD token is 100% backed by US dollar deposits, US Treasury securities, and cash equivalents. To ensure complete transparency, Ripple will issue monthly certificates of accumulated assets that are audited by a third party conducted by BPM.
At launch, RLUSD will be available globally to institutions and users on major global exchanges and platforms including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Market makers such as B2C2 and Keyrock are also participating to facilitate liquidity and encourage broader adoption.
“With early trading partners, RLUSD’s clear utility and demand, and strong focus on regulatory compliance, Ripple’s stablecoin is poised to become the gold standard for enterprise-grade stablecoins.” Ripple said Brad Garlinghouse, CEO. We have been looking for high-quality stablecoins like RLUSD that can be used in a variety of financial use cases, including payments, tokenization of real-world assets, and decentralized finance. Our payment solutions leverage RLUSD, XRP and other digital assets to enable faster, more reliable and cost-effective cross-border payments. ”
The RLUSD Advisory Board includes former FDIC Chair Sheila Baer, Partners Capital Vice Chairman and former Center Consortium CEO David Puth, and Ripple Executive Chairman Chris Larsen.
