YEREVAN (CoinChapter.com) — Ripple has partnered with several well-known platforms to make RLUSD available to a wider audience. These include Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. The goal is to enhance access to RLUSD across different regions and platforms, ensuring liquidity and availability for users.
Ripple Announces RLUSD Exchange Partners. Source: Business Wire
Brad Garlinghouse, Ripple’s CEO, shared in an announcement on Oct. 15 that customers and partners have been requesting reliable stablecoins like RLUSD for various use cases, such as payments and tokenization of assets. Garlinghouse stated:
“Customers and partners have been asking for high-quality stablecoins like RLUSD to use across various financial use cases, such as payments, tokenization of real-world assets, and decentralized finance.”
Ripple also plans to use RLUSD alongside XRP for cross-border payments. This combination is expected to reduce costs and improve transaction speed for international transfers.
Ripple’s Focus on Compliance for RLUSD
Moreover, Ripple’s RLUSD stablecoin operates under a New York Trust Company Charter. This brings it under strict regulatory oversight. The company ensures RLUSD fully complies with current financial regulations. As a result, it positions the stablecoin as a trusted option in the cryptocurrency market.
Ripple’s advisory board includes Sheila Bair, former Chair of the U.S. Federal Deposit Insurance Corporation (FDIC). Bair highlighted the importance of stablecoins in the future of financial infrastructure, stating that they will help modernize the system and support broader financial inclusion.
Ripple RLUSD Advisory Board Announced. Source: Business Wire RLUSD Testing on XRP and Ethereum Mainnets
In addition, Ripple tested RLUSD on the XRP Ledger (XRPL) and Ethereum mainnets starting August 9. The stablecoin holds full backing, 1:1, by US dollar reserves or short-term assets. Additionally, Ripple ensures transparency by conducting third-party audits and releasing monthly reports on the reserves.
Soon after, Ripple faced a $125 million penalty imposed by Judge Analisa Torres in a lawsuit with the U.S. Securities and Exchange Commission (SEC). However, despite this, Ripple kept advancing the development and distribution of RLUSD.
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