Raising the Standards for Stablecoins: Ripple USD Launches Globally with Unmatched Utility, Experience, and Compliance
Leading financial institution digital asset infrastructure provider Ripple today announced that Ripple USD (RLUSD) will begin trading on global exchanges tomorrow (December 17, 2024). RLUSD is an enterprise-grade, USD-pegged stablecoin created with trust, utility, and compliance at its core, backed by Ripple's years of experience in cryptocurrency and existing financial systems.
RLUSD will initially be available on Uphold, Bitso, MoonPay, Archax, and CoinMENA, with plans to list on platforms like Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash in the coming weeks. Each RLUSD token is fully backed by USD deposits, U.S. government bonds, and cash equivalents, designed to ensure its stability, reliability, and liquidity. To maintain the highest transparency standards, Ripple will publish monthly third-party attestations of RLUSD reserve assets conducted by independent auditing firms.
Ripple CEO Brad Garlinghouse stated, "Ripple made an early decision to launch our stablecoin under the NYDFS limited-purpose trust company charter, which is widely regarded as the gold standard for regulatory frameworks globally. As the U.S. moves towards clearer regulatory guidance, we expect stablecoins like RLUSD to see broader adoption, as they offer genuine utility and are backed by years of trust and expertise in the industry."