Ripple’s USD Stablecoin Set to Debut Trading Tomorrow

Ripple’s RLUSD stablecoin is set to make its trading debut on Dec. 17 on platforms including Uphold, MoonPay, Archax, and CoinMENA, the company has officially announced.

Ripple’s USD Stablecoin Set to Debut Trading Tomorrow

NEWS

Ripple, the blockchain company behind XRP, has confirmed that its Ripple USD (RLUSD) stablecoin will begin trading globally tomorrow, Dec. 17.

RLUSD, a new US dollar-backed stablecoin developed by Ripple, is set to debut on global exchanges on Dec. 17, the company told Cointelegraph on Monday, Dec. 16.

The announcement comes shortly after the New York Department of Financial Services (NYDFS) approved the launch of RLUSD on Dec. 10, clearing the stablecoin’s entry into global financial and cryptocurrency markets.

Ripple also announced key appointments to the RLUSD advisory board, including a former governor of the Reserve Bank of India.

RLUSD Initial Availability Locations

Introduced in June, RLUSD is a 1:1 U.S. dollar-pegged stablecoin that is 100% collateralized by U.S. dollar deposits, short-term U.S. Treasuries, and other cash equivalents.

At launch, Ripple’s RLUSD stablecoin will initially be available on major cryptocurrency exchanges and platforms including Uphold, MoonPay, Archax, and CoinMENA, according to the announcement.

In the coming weeks, RLUSD is also expected to be listed on platforms such as Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, Zero Hash, and others.

With an eye on global adoption of its RLUSD stablecoin, Ripple expects its network of partners to drive its use across the Americas, Asia-Pacific, the United Kingdom, and the Middle East.