Ripple has announced more details about its upcoming stablecoin, RLUSD, an overcollateralized asset pegged to the US dollar.
The company will be collaborating with a network of leading crypto exchanges and platforms such as Uphold, Bitstamp
$297.08M
, Bitso
$58.29M
, MoonPay, Independent Reserve
$15.46M
, CoinMENA, and Bullish
$1.78B
, aiming to broaden the global accessibility of RLUSD.
Issued under a New York Trust Company Charter, RLUSD will follow strict regulatory rules. Ripple has committed to regular third-party audits of its assets and will publish monthly reports to ensure transparency and accountability.
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Each RLUSD token will be fully backed on a one-to-one basis by US dollar reserves or short-term cash equivalents.
Sheila Bair, former Chair of the US Federal Deposit Insurance Corporation and a member of Ripple’s advisory board, emphasized the significance of stablecoins in modernizing financial infrastructure and promoting wider financial inclusion. She expressed enthusiasm for joining Ripple’s mission to launch RLUSD with a focus on adherence to regulatory standards.
Addressing the increasing demand from clients and partners for high-quality digital tokens suitable for diverse financial applications—including payments, asset tokenization, and decentralized finance—Ripple’s CEO, Brad Garlinghouse, said:
Our payment solutions will leverage RLUSD, XRP, and other digital assets to enable faster, more reliable, and cost-effective cross-border payments.
Ripple’s approach with RLUSD reflects a dedication to principles of responsible innovation and compliance with regulatory frameworks, striving to promote wider adoption of crypto on an international scale.
This announcement comes at a legally challenging time for Ripple, as the US Securities and Exchange Commission filed an appeal to overturn a previous court ruling in a case over XRP sales. The company has recently filed for a cross-appeal.
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.
