Digital asset infrastructure provider Ripple has announced its initial list of platform and exchange partners, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish, ahead of the launch of its RLUSD stablecoin. Market makers such as B2C2 and Keyrock will also provide liquidity for the coin at launch.
Brad Garlinghouse, CEO of Ripple, said:
“With the collaboration from our initial exchange partners, along with the clear demand and utility of RLUSD, Ripple’s stablecoin is well on its way to becoming the gold standard for enterprise stablecoins. Our payment solutions will leverage RLUSD, XRP, and other digital assets to deliver faster, more reliable, and cost-effective cross-border payments.”
During a talk at Korea Blockchain Week last month, Garlinghouse asserted that the new stablecoin would launch in “weeks, not months,” although an official date has yet to be announced. He also expressed his disinterest in the possibility of Ripple listing in the United States, largely due to the Securities and Exchange Commission’s (SEC) “quite hostile” stance toward cryptocurrencies.
The company is awaiting regulatory approval from the New York Department of Financial Services (NYDFS) to publicly deploy RLUSD, Ripple Labs President Monica Long shared.
“On our side, we are ready to go,” Long added.
RLUSD will be integrated into Ripple’s cross-border payments network, which is designed for enterprise applications such as real-time global payments, providing a stable bridge between fiat and cryptocurrencies, and supporting the tokenization of real-world assets (RWA) such as commodities and securities. Each RLUSD token will be 100% backed by USD deposits, US government bonds, and cash equivalents.
The stablecoin will be issued on both the XRP Ledger and Ethereum blockchains, complying with the New York State license for companies operating in the financial sector, aiming to provide a reliable and liquid solution for developers and users.
Ripple also announced the formation of the RLUSD Advisory Board, featuring former FDIC Chair Sheila Bair, former CENTRE Consortium CEO and JPMorgan executive David Puth, and co-founder and Executive Chairman Chris Larsen, to “guide the process of introducing RLUSD to the market.”
“Stablecoins will play a key role in modernizing financial infrastructure and expanding financial inclusion. As the digital asset industry evolves, responsible innovation will be key to adoption, with consumer protection and financial stability as priorities,” Bair emphasized.
“Stablecoins are an essential component in the development of the digital economy, bridging the gap between traditional finance and the cryptocurrency market,” Puth added.
