Ripple has announced the exchange partners for its upcoming dollar-denominated stablecoin, Ripple USD (RLUSD).

The blockchain infrastructure provider has partnered with cryptocurrency exchanges and platforms, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish, to facilitate the distribution of the stablecoin. Ripple’s new stablecoin aims to become the “gold standard for enterprise-grade stablecoins,” according to Ripple CEO Brad Garlinghouse, who wrote in an announcement on Oct. 15: “Customers and partners have been asking for high-quality stablecoins like RLUSD to use in a variety of financial use cases, such as payments, tokenization of real-world assets, and decentralized finance.”
Garlinghouse added that Ripple’s payments solution will leverage RLUSD and the XRP token
to facilitate faster and more cost-effective cross-border payments.
Stablecoins are the primary on-ramp between the traditional economy and the cryptoeconomy. Issuing more regulatory-compliant stablecoins could increase cryptocurrency adoption, making stablecoins more accessible around the world. Regulatory compliance is key for Ripple’s RLUSD
is one of the few stablecoins issued under a New York Trust Company Charter, positioning it for strict oversight.
With a significant focus on regulatory compliance, Ripple’s advisory board includes former U.S. Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair. Stablecoins will play a key role in modernizing our financial infrastructure and expanding financial inclusion. I am honored to join Ripple’s advisory board as they launch their stablecoin with a compliance-first approach.”Responsible innovation will continue to be key to cryptocurrency adoption as the industry grows, Bair added.

Ripple News: Institutional Purchases Up 266% – Is an XRP Bull Run Coming?
Institutional purchases of XRP increased by 266%, reflecting increased investor confidence and the potential for a future bull run.
Ripple’s legal battle with the SEC continues to influence market sentiment, but favorable court rulings have boosted optimism around XRP’s growth.
Amid the legal battle between Ripple and the SEC, XRP has seen an impressive 266% increase in institutional purchases. Last week, investments amounted to $1.1 million, a substantial jump from $0.3 million the week before. This positive move is particularly important after XRP signals a potential rebound after a 6-year stagnation that we recently discussed in a previous CNF post.

At the moment, this upward trend signals growing confidence in XRP’s potential, especially in light of Ripple’s recent favorable court rulings. As investor optimism increases, the price of XRP has risen 1% to around $0.54, while trading volume has spiked 45%, highlighting increased market activity.

Ripple vs. SEC: Legal Proceedings Boost Market Sentiment

Reiterating another CNF update on Gensler’s last-day appeal tactic, we also discuss “What is the SEC Planning?” Ripple’s ongoing legal dispute with the SEC has sparked both concern and optimism. As the company prepares to appeal to the Second Circuit Court, the SEC’s decision to challenge an earlier ruling — reducing Ripple’s fine from nearly $2 billion to $125 million — has drawn criticism. #xrp

KEY POINTS:
Brad Garlinghouse accused the SEC of ignoring court rulings and acting like a “rogue agency.”
A judge ruled in favor of Ripple, declaring that XRP is not a security, but the SEC continues to challenge this decision.
Ripple and legal experts questioned the SEC’s stance, pointing out risks to its credibility and legitimacy.
The legal conflict between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) remained ongoing, with new accusations from Ripple executives. Brad Garlinghouse, CEO of Ripple, publicly accused the SEC of ignoring a recent court decision on XRP, calling the agency a “rogue” for its conduct. Both Garlinghouse and Stuart Alderoty, Ripple’s Chief Legal Officer, used the X platform (formerly known as Twitter) to voice their disagreement with the SEC’s stance on XRP. Despite a recent court ruling in Ripple's favor, the SEC continued to maintain that XRP was a security. Alderoty reiterated Ripple's position that XRP is not a security and criticized the SEC for not respecting the court's decision. #XRP🚀

Ripple Labs has filed a cross-appeal in its long-running legal dispute against the U.S. Securities and Exchange Commission (SEC), seeking to overturn the points of the ruling that favor the regulator. This move marks a key point in the regulatory battle that could set important precedents for the crypto industry.

Ripple Labs has escalated its showdown with the U.S. Securities and Exchange Commission (SEC) by filing a cross-appeal that seeks to challenge certain aspects of the ruling issued in July 2023. In that decision, the court ruled that while sales of XRP to institutional investors violated securities laws, secondary sales and transactions on exchanges did not. Ripple is seeking to reverse precisely this partial ruling in favor of the SEC.

The filing of this cross-appeal came after the SEC notified its own appeal in September 2023, also seeking to overturn the parts of the ruling that favored Ripple. This legal dispute, which has captured global attention, not only has direct implications for Ripple and its cryptocurrency XRP, but could also influence the regulatory framework for the entire cryptoasset industry in the United States.

The importance of the Ripple-SEC case

The Ripple vs. SEC case is one of the most high-profile and significant clashes in the crypto space. The SEC accused Ripple in December 2020 of selling XRP as an unregistered security, arguing that the transactions made by the company constituted an illegal offering of securities under the Securities Act of 1933. Ripple has maintained from the beginning that XRP is a digital token and not a security, so it is not subject to SEC regulations.

The July 2023 ruling was seen as a partial victory for Ripple, as the court found that sales and distributions of XRP on secondary exchanges did not meet the definition of a “securities offering.” #XRP🚀