Ripple Launches New USD Stablecoin Globally
Ripple, which provides digital asset infrastructure to financial institutions, will launch its USD-denominated stablecoin on global exchanges from December 17.
The token, called RLUSD, will initially trade on Uphold, a cryptocurrency exchange; Bitso, a Latin American digital asset platform; MoonPay, a payments infrastructure company; Archax, a regulated digital asset exchange; and CoinMENA, a Middle East-focused crypto exchange.
Additional listings are expected on Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve and Zero Hash in the coming weeks.
“As the US moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD"
Regulatory framework and technology
The stablecoin operates under a New York Department of Financial Services limited purpose trust company charter, a regulatory framework that requires strict oversight of reserve assets and operational practices.
Each RLUSD token is backed by US dollar deposits, US government bonds and cash equivalents. Monthly attestations of these reserve assets will be published by an independent auditing firm.
“Early on, Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide,” says Brad Garlinghouse, Ripple's CEO.
“As the US moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry.”
The stablecoin will operate on both the XRP Ledger, a decentralised blockchain network, and Ethereum, a blockchain platform that supports smart contracts.
This dual-chain approach positions RLUSD for institutional adoption across multiple use cases, from cross-border payments and treasury operations to providing collateral for trading tokenised real-world assets such as commodities and securities on blockchain networks.
Central bank expertise joins advisory board
Two central banking veterans have joined RLUSD's advisory board to provide strategic guidance on regulatory, financial and operational matters.
Raghuram Rajan, former Governor of the Reserve Bank of India, brings expertise in monetary policy and financial markets, while Kenneth Montgomery, former First Vice President and Chief Operating Officer of the Federal Reserve Bank of Boston, adds operational experience in payment systems.
They join existing board members Sheila Bair, former Federal Deposit Insurance Corporation Chair; David Puth, Vice Chairman of Partners Capital and former CENTRE Consortium CEO; and Chris Larsen, Ripple co-founder and Executive Chairman.
“Stablecoins could become the backbone of private payments by offering a secure, scalable, and efficient alternative to traditional systems"
Market integration and payments infrastructure
Ripple Payments, which has processed US$70bn in payment volume across more than 90 markets, will integrate RLUSD in early 2025. The service covers 90% of the daily foreign exchange market, providing a foundation for institutional adoption of the stablecoin.
The token aims to bridge traditional finance and digital assets by facilitating instant settlement and providing liquidity for remittance operations.
Its integration with decentralised finance protocols — automated financial services that operate without traditional intermediaries — opens new possibilities for institutional participants.
“Stablecoins could become the backbone of private payments by offering a secure, scalable, and efficient alternative to traditional systems,” says Raghuram. “With its focus on compliance and reliability, RLUSD aims to establish new standards for trust and to play a pivotal role in shaping the future of payments.”
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