Ripple confirms that RLUSD, their new stablecoin, will start global trading on December 17. RLUSD is backed 1:1 by USD deposits, short-term US government bonds, and other cash-equivalent assets.

In the past two weeks, over $65.9 million RLUSD has been issued, with $13.3 million on XRPL and $52.9 million on the Ethereum network. This launch puts RLUSD in competition with major stablecoins like USDC and Tether.