Ripple RLUSD stablecoin goes live today offering a USD backed solution for global payments and DeFi.
RLUSD is backed by real assets providing stability and transparency through monthly third party attestations.
Ripple expands its global reach with RLUSD now available on major exchanges supporting cross border payments.
Ripple will officially launch its new stablecoin, RLUSD today. The US dollar-backed stablecoin is intended for business use. The goal of the stablecoin is to increase stability and transparency in the rapidly expanding stablecoin market.
https://twitter.com/BitcoinWorldN/status/1868889845172748480
RLUSD will be available on Uphold, Bitso, MoonPay, Archax, and CoinMENA exchanges. Soon, additional listings on platforms like Bullish, Bitstamp and Mercado Bitcoin are expected.
Backed by Real Assets
RLUSD is backed by US dollar deposits, government bonds, and cash equivalents. This ensures the coin’s value remains stable. Ripple has promised to provide monthly third-party attestations to verify the reserves.
This transparency will help reassure users and investors about the coin’s security. By focusing on real-world assets, Ripple aims to set a new standard in the stablecoin industry.
Ripple's Goal for Global Payments
Ripple plans to use RLUSD for global payments and cross-border transactions. The company already handles over $70 billion in payments annually. Moreover, RLUSD will make it easier to process remittances and manage treasury liquidity.
Ripple also aims to integrate RLUSD into decentralized finance (DeFi) platforms. This will allow businesses to use the coin in both traditional and digital finance.
Multi-Blockchain Support for Greater Reach
RLUSD will be available on XRP Ledger and Ethereum blockchain. This will provide flexibility and scalability for businesses. Ripple wants to support more blockchains in order to attract more users and compete with other stablecoins such as USDC and USDT. It also makes RLUSD a useful tool for decentralized finance applications.
Ripple Expands Leadership Team
Ripple recently added two prominent advisors to its team. Former RBI Governor Raghuram Rajan and former Boston Fed COO Kenneth Montgomery have joined Ripple’s advisory board. These additions show Ripple’s commitment to regulatory compliance and building trust.
These appointments highlight Ripple’s focus on regulatory compliance and reliability. In particular, Ripple wants to set the pace for stablecoins in the financial industry with strong leadership.
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