Ripple partners with top exchanges to launch RLUSD stablecoin globally
Ripple has launched its Ripple USD (RLUSD) stablecoin, supported by major crypto exchanges including Uphold, Bitstamp, and MoonPay. Leading market makers B2C2 and Keyrock will provide liquidity for RLUSD. The stablecoin aims to combine fiat stability with blockchain efficiency, targeting enterprise clients for cross-border payments, fiat on/off ramps, and asset tokenization. Each RLUSD token will maintain a 1:1 parity with the US dollar, backed by dollar reserves and US government bonds. Currently in private beta, RLUSD's supply is approximately $60 million, split between the XRP Ledger and Ethereum. Ripple CEO Brad Garlinghouse highlighted the importance of strong partnerships and utility for RLUSD's success. An RLUSD Advisory Board has been formed, featuring figures like Sheila Bair and David Puth, to guide its market entry and growth. The board emphasizes stablecoins' role in bridging traditional finance with the crypto market, enhancing transparency and efficiency.
