Ripple has announced that its stablecoin Ripple USD (RLUSD) will begin global trading tomorrow, December 17th. RLUSD is backed by dollar deposits, short-term US Treasury bonds, and other cash equivalents at a 1:1 ratio.

Over $65.9 million of RLUSD has been issued in the past two weeks: $13.3 million on XRPL and $52.9 million on Ethereum. With the launch, RLUSD will compete with other major stablecoins such as USDC and Tether.