Ripple has announced exchange partners for its upcoming stablecoin, Ripple USD (RLUSD)

Oct 15, 2024 - Ripple, a leading provider of digital asset infrastructure for financial institutions, has announced the launch of RLUSD, a USD-denominated stablecoin designed for enterprises, highlighting trust, liquidity, and compliance.

The stablecoin will be available globally through major exchanges, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.

Ripple CEO Brad Garlinghouse emphasized the demand for a high-quality stablecoin like RLUSD, which will be used in various financial applications, such as cross-border payments, asset tokenization, and decentralized finance (DeFi). “Ripple’s RLUSD is poised to set the standard for enterprise-grade stablecoins with strong regulatory compliance,” Garlinghouse said.

The liquidity of RLUSD will be supported by prominent market makers B2C2 and Keyrock, facilitating its adoption across international markets.

Advisory Board for RLUSD

Ripple has assembled an advisory board to ensure responsible oversight of RLUSD. Key members include former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, Vice Chairman of Partners Capital David Puth, and Ripple co-founder Chris Larsen. Bair noted that stablecoins could modernize financial infrastructure and drive financial inclusion, while Puth stressed their potential to connect traditional finance with the crypto ecosystem.

Enterprise Use Cases

RLUSD is built for several use cases in the financial sector:

Payments: Ripple aims to integrate RLUSD into its global payment solutions, enabling real-time, cost-effective transactions.

On/Off Ramps: The stablecoin will act as a reliable bridge between fiat currencies and the crypto market.

Tokenization of Real-World Assets: RLUSD can be used to facilitate the trading of real-world assets such as commodities and securities on blockchain platforms.

Customer and Partner Feedback

Exchange partners and liquidity providers expressed strong support for RLUSD. Companies like MoonPay, Bitso, and Bullish highlighted the benefits of integrating a regulated, compliant stablecoin into their platforms, citing Ripple's proven track record in digital assets.

Ripple will launch RLUSD on both the XRP Ledger and Ethereum blockchains, enhancing its utility and adoption across decentralized finance ecosystems. Each RLUSD token is fully backed by U.S. dollar deposits and bonds, with monthly audited reports ensuring transparency.

For more information, visit Ripple’s stablecoin page: ripple.com/solutions/stablecoin.