Ripple has taken a major step in the stablecoin market by announcing its new Ripple USD (RLUSD) stablecoin, backed by several prominent crypto exchanges.
The stablecoin, still in its private beta phase, already boasts a supply of over $60 million, signalling strong early demand.
RLUSD will be available to both institutional clients and retail users on major platforms such as Uphold, Bitstamp, Bitso, and MoonPay, among others.
This global launch aims to provide a secure, efficient means of handling digital assets and cross-border transactions.
Ripple has ensured liquidity for RLUSD through partnerships with top market makers like B2C2 and Keyrock, aiming to make the stablecoin a preferred choice for enterprises.
Built on both the XRP Ledger (XRPL) and Ethereum, RLUSD combines blockchain’s speed and transparency with the stability of the U.S. dollar, fully backed by dollar reserves, U.S. government bonds, and cash equivalents.
Each RLUSD token will maintain a 1:1 ratio with the U.S. dollar, ensuring trust and reliability for users.
Ripple’s CEO, Brad Garlinghouse, emphasized the significance of RLUSD, pointing to its potential to streamline cross-border payments and tokenization of real-world assets.
He stressed that the new stablecoin is designed to meet the growing market demand for digital assets that offer practical solutions across financial sectors.
“Our payment solutions will leverage RLUSD, XRP, and other digital assets to enable faster, more reliable, and cost-effective cross-border payments,” Garlinghouse said.
Ripple has also formed an RLUSD Advisory Board featuring industry veterans, including former FDIC Chair Sheila Bair and former CENTRE Consortium CEO David Puth.
The board will guide the stablecoin’s growth and market integration. According to Bair, RLUSD is poised to play a pivotal role in modernizing financial infrastructure and expanding financial inclusion, as digital economies continue to evolve.
