Ripple is set to launch its US dollar-pegged stablecoin, Ripple USD (RLUSD), on December 17 on the XRP Ledger and Ethereum. Each RLUSD token will be backed by US dollar deposits, government bonds, and cash equivalents. The stablecoin will initially be available on Uphold, Bitso, MoonPay, Archax, and CoinMENA, with plans to expand to platforms like Bullish, Bitstamp, and Mercado Bitcoin in the coming weeks.
Ripple will also provide monthly third-party attestations of RLUSD’s reserves, audited by an independent firm. Ripple CEO Brad Garlinghouse said the company is launching RLUSD under the New York State Department of Financial Services (NYDFS) limited purpose trust company charter.
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