Ripple has announced the global trading launch of its Ripple USD (RLUSD) stablecoin, set for December 17. RLUSD is a dollar-backed stablecoin, fully supported by US dollar deposits, short-term US government Treasuries, and other cash equivalents.

In the past two weeks, over $65.9 million in RLUSD has been minted, with $13.3 million on the XRPL and $52.9 million on the Ethereum network. This launch positions RLUSD to compete with established stablecoins such as USDC and Tether, signaling a positive development in the stablecoin market and offering more options for digital currency investors.