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Ripple’s groundbreaking RLUSD stablecoin launches on Tuesday, set to transform global payments with instant settlements, defi integration, and unrivaled regulatory compliance.
Ripple Launches RLUSD Stablecoin: The Revolution in Global Payments Begins
Ripple is gearing up for the global debut of Ripple USD (RLUSD), an enterprise-grade stablecoin launching on Dec. 17. Designed for trust, utility, and compliance, RLUSD is fully backed by U.S. dollar deposits, government bonds, and cash equivalents, with monthly third-party audits ensuring transparency.
Brad Garlinghouse, the CEO of Ripple, shared on social media platform X that RLUSD will debut on Uphold, Moonpay, Coinmena, Archax, and Bitso — with Bullish, Mercado Bitcoin, Zero Hash, Independent Reserve, and Bitstamp “soon to follow.” Garlinghouse highlighted the regulatory rigor behind RLUSD, stating:
Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide.
Last week, Garlinghouse elaborated on the launch, confirming approval from the New York State Department of Financial Services (NYDFS). “This just in…we have final approval from NYDFS for RLUSD! Exchange and partner listings will be live soon,” he said.
RLUSD is designed to meet the needs of financial institutions, enabling instant cross-border settlements, liquidity for remittances, and integration with decentralized finance (defi) protocols. It serves as a bridge between fiat currencies and crypto, simplifying on- and off-ramping processes for institutions.
Early next year, Ripple Payments will incorporate RLUSD into its global operations, leveraging its near-global reach and $70 billion in annual payments volume. With dual compatibility on the XRP Ledger and Ethereum blockchains, RLUSD offers scalability for applications such as collateralizing tokenized real-world assets and facilitating real-time treasury operations, the company stated.
To further solidify its position in the digital finance space, Ripple has added Raghuram Rajan, former Governor of the Reserve Bank of India (RBI), and Kenneth Montgomery, former COO of the Federal Reserve Bank of Boston, to its advisory board. Rajan remarked on the potential of stablecoins to transform private payments, calling RLUSD a secure and efficient alternative to traditional systems. Montgomery emphasized RLUSD’s potential to modernize global finance and enhance financial inclusion. With strong partnerships, regulatory backing, and a focus on innovation, RLUSD is poised to set a new benchmark for stablecoins.