Ripple, a leading provider of digital asset infrastructure for financial institutions, has introduced Ripple USD (RLUSD), an enterprise-grade stablecoin pegged to the U.S. dollar. As of December 17, 2024, RLUSD is available on Uphold, Bitso, and CoinMENA, with upcoming listings on Bitstamp and Zero Hash. Designed to deliver stability, liquidity, and reliability, RLUSD is backed by U.S. dollar deposits, government bonds, and cash equivalents. To ensure transparency and build trust, Ripple will publish monthly, third-party attestations of RLUSD’s reserves. Built on the XRP Ledger and Ethereum blockchains, RLUSD enables flexible applications across financial ecosystems.
Ripple CEO, Brad Garlinghouse highlighted the NYDFS-issued trust company charter as a key regulatory foundation for RLUSD, further bolstered by an Advisory Board featuring financial experts like Raghuram Rajan and Kenneth Montgomery. RLUSD supports financial use cases such as instant cross-border payment settlements, liquidity access, integration with DeFi protocols, and on-chain collateralization of tokenized assets. Ripple Payments, the company’s global payment arm, plans to leverage RLUSD to enhance its $70 billion payment ecosystem in early 2025, reinforcing Ripple’s leadership in fostering innovation, compliance, and growth in digital finance.
