According to Foresight News, Ripple announced that it has begun beta testing its new stablecoin RLUSD on XRP Ledger (XRPL) and Ethereum mainnet, and plans to expand to other blockchains and decentralized finance (DeFi) protocols over time. RLUSD is currently in the testing phase and cannot be purchased or traded. Beware of fake RLUSD.
Ripple said that RLUSD is pegged 1:1 to the U.S. dollar and is 100% backed by U.S. dollar deposits, short-term U.S. government treasuries and other cash equivalents. These reserve assets will be audited by a third-party accounting firm, and Ripple will issue monthly certifications.
