Wednesday, February 19, 2025

Ripple Launches RLUSD Stablecoin with Global Exchange Listings

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KEY TAKEAWAYS

  • Ripple launches its new stablecoin, Ripple USD (RLUSD), globally on December 17, 2024, with listings on major exchanges.
  • RLUSD is fully backed by U.S. dollar deposits and government bonds, ensuring stability and transparency through monthly audits.
  • Ripple enhances its advisory board with notable figures to guide RLUSD’s strategic direction and adoption.
  • RLUSD aims to facilitate cross-border payments and integrate with DeFi protocols, expanding its use cases globally.

Ripple, a prominent provider of digital asset infrastructure, has announced the global availability of its new stablecoin, Ripple USD (RLUSD), starting December 17, 2024. The stablecoin will be listed on major exchanges including Uphold, Bitso, MoonPay, Archax, and CoinMENA, with further listings expected on platforms such as Bullish, Bitstamp, and Mercado Bitcoin in the coming weeks.

RLUSD is an enterprise-grade, USD-denominated stablecoin designed with a focus on trust, utility, and compliance. Each RLUSD token is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents, ensuring its stability and liquidity. Ripple will publish monthly, third-party attestations of RLUSD’s reserve assets to maintain transparency, conducted by an independent auditing firm.

Strategic Advisory Board Enhancements

In a move to bolster its strategic guidance, Ripple has appointed Raghuram Rajan, former Governor of the Reserve Bank of India, and Kenneth Montgomery, former First Vice President and COO of the Federal Reserve Bank of Boston, to the RLUSD advisory board. They join existing members such as former FDIC Chair Sheila Bair and Ripple co-founder Chris Larsen.

Rajan emphasized the potential of stablecoins to become a backbone of private payments, offering a secure and efficient alternative to traditional systems. Montgomery highlighted the role of stablecoins in modernizing payments, noting their speed and cost-effectiveness compared to traditional methods.

Expanding Global Adoption and Use Cases

RLUSD is set to drive adoption across various regions, including the Americas, Asia-Pacific, UK, and the Middle East. The stablecoin is designed for financial use cases such as facilitating instant cross-border payments, providing liquidity for remittance and treasury operations, and integrating with decentralized finance (DeFi) protocols.

Ripple Payments plans to utilize RLUSD for global payments early next year, leveraging its extensive network that covers over 90 payout markets. RLUSD is available on both the XRP Ledger and Ethereum blockchains, offering flexibility for a wide range of financial applications.

For more details, the full announcement can be found here.


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Sharif
Sharif
Sharif is a seasoned software engineer with a decade of experience in the tech industry, including 8 years in cryptocurrency and blockchain. With deep knowledge of decentralized technologies, Sharif offers insightful analysis and expert commentary on the transformative potential of blockchain. Through CoinsHolder.com, he shares his expertise, making him a respected voice in the cryptocurrency community.

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