RLUSD will initially be available on exchanges such as Uphold, Bitso, MoonPay, Archax, and CoinMENA. More platforms, including Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash.
Each RLUSD token is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents. Ripple will also publish monthly third-party attestations of RLUSD’s reserve assets, conducted by an independent auditing firm, for full transparency.
RLUSD Sets New Standard with Regulatory Backing and Global Partnerships
“We wanted to set the bar high by launching RLUSD under the NYDFS limited purpose trust company charter, widely seen as the gold standard for regulatory oversight,” said Brad Garlinghouse, Ripple’s CEO. “As U.S. regulations take shape, stablecoins like RLUSD—backed by years of industry trust and expertise—will play a pivotal role in global financial systems.”
The wait is over: RLUSD launches globally tomorrow!https://t.co/mYcyyX6Vre
— Ripple (@Ripple) December 16, 2024
According to its blog post, RLUSD’s partnerships with leading exchanges, market makers, and payment providers will drive adoption across regions such as the Americas, Asia-Pacific, the UK, and the Middle East. RLUSD is built for financial use cases, allowing institutions to:
- Facilitate instant settlement of cross-border payments.
- Access liquidity for remittance and treasury operations.
- Seamlessly integrate with decentralized finance (DeFi) protocols.
- Bridge traditional fiat currencies and the crypto ecosystem, making the on-ramping and off-ramping process smooth and efficient.
- Serve as collateral for trading tokenized real-world assets like commodities, securities, and treasuries on-chain.
In addition to Sheila Bair, David Puth and Chris Larsen — the Ripple stablecoin Advisory Board welcomes:
Raghuram Rajan (former Reserve Bank of India Governor)
A team like no other.
— Ripple (@Ripple) December 16, 2024
Ripple also plans to use RLUSD in its payment platform, Ripple Payments, to facilitate global payments for enterprise customers. Ripple Payments has already processed over $70 billion in payments, serving more than 90 markets and covering more than 90% of the global FX market.
Available on both the XRP Ledger and Ethereum blockchains, RLUSD offers flexibility and scalability for a wide range of financial applications, helping bridge the gap between traditional finance and the crypto world.
Disclaimer
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The post Ripple Announces RLUSD Stablecoin Launch on Global Exchanges appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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