Deep Tide TechFlow News, December 23, according to CrowdFundInsider, Bitso, a leading cryptocurrency exchange in Latin America, announced the launch of the stablecoin RLUSD issued by Ripple. This stablecoin is pegged to the US dollar at a 1:1 ratio and is fully backed by equivalent US dollars and cash equivalents, primarily aimed at cross-border payment scenarios.

Bitso's CEO Daniel Vogel stated that the company's long-term partnership with Ripple has led to several innovative application scenarios, including cross-border payments. RLUSD will be offered through the RLUSD/MXN trading pair on the Bitso Alpha platform, allowing users to deposit and withdraw in the form of Ethereum ERC-20 tokens.