Ripple Announces RLUSD Stablecoin Launch with Key Partnerships
Ripple has officially unveiled the initial lineup of exchanges and platforms that will support its upcoming stablecoin, RLUSD. As the company gears up for its launch, Ripple has established partnerships with major exchanges, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Additionally, market makers B2C2 and Keyrock will play a critical role in ensuring liquidity for RLUSD at its launch.
Confidence in RLUSD's Potential
Ripple CEO Brad Garlinghouse expressed optimism about the stablecoin's prospects, highlighting its strong foundation in regulatory compliance and the increasing demand for enterprise-grade digital assets. "With a clear focus on utility, demand, and a robust set of exchange partners, RLUSD is positioned to become the gold standard for stablecoins in enterprise use," Garlinghouse stated.
Speaking at Korea Blockchain Week, Garlinghouse hinted at an imminent launch of RLUSD, emphasizing that it would arrive "in weeks, not months." However, Ripple has yet to announce an official release date. The CEO also reiterated his stance against taking Ripple public in the U.S. due to the Securities and Exchange Commission’s unfavorable position on the cryptocurrency industry.
Streamlining Global Payments
RLUSD is designed to integrate seamlessly into Ripple's global payments network, aiming to facilitate cross-border transactions with speed and cost-efficiency. Each RLUSD token will be fully backed by U.S. dollar reserves, government bonds, and other cash equivalents, ensuring stability for real-time, enterprise-level payments. Ripple plans to launch the stablecoin on both the XRP Ledger and Ethereum, with issuance supervised by a New York Trust Company Charter.
Formation of the RLUSD Advisory Board
To guide its market entry, Ripple has formed an RLUSD Advisory Board, featuring notable figures such as former FDIC Chair Sheila Bair, CENTRE Consortium CEO David Puth, and Ripple co-founder Chris Larsen. Bair emphasized the essential role of stablecoins in evolving the financial infrastructure, while Puth highlighted their potential to bridge traditional finance and blockchain technology.
Responsible Innovation in Stablecoins
With a commitment to responsible innovation, RLUSD is positioned to meet the demands of the digital economy while setting a new standard for regulatory-compliant stablecoins. This initiative aims to enhance both financial inclusion and market stability, paving the way for a new era in digital finance.
