Ripple is preparing to launch a US dolar denominated stablecoin, roping in a host of exchange partners and customers in the digital asset industry.
RLUSD will launch on the XRP Ledger and Ethereum blockchain, offering support for instant payments, fiat to crypto conversion and the tokenization of real-world assets.
Each RLUSD token is 100% backed by US dollar deposits, US government bonds, and cash equivalents. To ensure full transparency, Ripple will publish monthly, third-party audited attestations of reserve assets conducted by BPM.
At launch, RLUSD will be available globally for 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, have also been brought onboard to drive liquidity and encourage broader adoption.
“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," says Brad Garlinghouse, Ripple CEO. "Customers and partners have been asking for high-quality stablecoins like RLUSD to use across various financial use cases, such as payments, tokenization of real-world assets, and decentralized finance. Our payment solutions will leverage RLUSD, XRP, and other digital assets to enable faster, more reliable, and cost-effective cross-border payments."
Joining the RLUSD advisory board are former FDIC Chair Sheila Bair, vice chairman of Partners Capital and former Centre Consortium CEO David Puth, and Ripple executive chairman Chris Larsen.