Ripple, the leading digital asset infrastructure provider for financial institutions, announced today, December 17, that Ripple USD (RLUSD) will be available on global exchanges.
RLUSD is a stablecoin licensed by the New York State Department of Financial Services (NYDFS). This stablecoin is fully backed by USD, U.S. Treasury bonds, and cash-equivalent assets.
RLUSD was created with a core emphasis on trust, utility, and compliance, supported by Ripple's years of experience working in the cryptocurrency space and current financial systems.
Uphold, MoonPay, Archax Coin, and MENA are the first exchanges to list RLUSD. Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, Zero Hash, and other platforms are expected to support RLUSD in the coming weeks.
RLUSD will be used as Ripple's cross-border payment medium. Initially, RLUSD will run on the XRP Ledger and Ethereum, with plans to expand to other blockchains later.
Brad Garlinghouse, CEO of Ripple, stated: “From the beginning, Ripple made the intentional choice to launch a stablecoin under the limited-purpose trust charter of NYDFS, widely regarded as the leading regulatory standard globally.” “As the U.S. moves towards clearer regulations, we hope to see broader acceptance of stablecoins like RLUSD, providing real utility and backed by years of trust and industry expertise.”
