ripple's new stablecoin for payment will be available to trade tuesday



                                                                      Watchmore

Ripple's new stablecoin, RLUSD, will be available to trade on Tuesday, December 17th. The U.S. dollar-pegged stablecoin will initially launch on select global exchanges including Uphold, Bitso, MoonPay, Archax, and CoinMENA

Key Details

  • Name: Ripple USD (RLUSD)
  • Blockchain platforms: Ethereum and XRP Ledger
  • Backing: Fully backed by U.S. dollar deposits, government securities, and cash equivalents
  • Regulatory approval: Received from New York State Department of Financial Services
Jack McDonald, Ripple's senior vice president for stablecoins, noted the motivation is to improve cross-border transactions with a more cost-efficient and operationally streamlined solution
1
. The company plans to integrate RLUSD into its payment network early in 2025.

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