Foresight News reports that Ripple has announced the launch of its US dollar stablecoin RLUSD on December 17, initially available on Uphold, Bitso, MoonPay, Archax, and CoinMENA, with plans to launch in the coming weeks on platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash.
Ripple's CEO stated, "Initially, Ripple deliberately chose to launch the stablecoin under the NYDFS limited-purpose trust charter, which is widely regarded as the leading regulatory standard globally." Each RLUSD token is fully backed by US dollar deposits, US government bonds, and cash equivalents, and Ripple will publish a third-party verification of RLUSD's reserve assets conducted by an independent auditing firm on a monthly basis.