MetaComp launches Ripple RLUSD stablecoin for APAC institutions
MetaComp, a Singapore-based provider of digital asset infrastructure regulated by the Monetary Authority of Singapore (MAS), has begun distributing Ripple USD (RLUSD), Ripple's new stablecoin, to institutional clients across Asia-Pacific and beyond.
RLUSD, a USD-denominated stablecoin issued by Standard Custody & Trust Company, a wholly owned subsidiary of Ripple Labs, is set to be listed on StableX, MetaComp's foreign exchange (FX) and cross-border settlement platform. StableX currently supports more than 31 currencies. By integrating RLUSD, MetaComp aims to enable fast, transparent, and cost-effective cross-border payments while maintaining compliance with regulatory standards.
New stablecoin access
MetaComp is offering institutional access to RLUSD through its compliant infrastructure and has emphasised that RLUSD is live and fully rolled out on its platforms. Institutional clients can receive onboarding and distribution support to leverage RLUSD for their payment and settlement needs.
"This partnership is a meaningful step toward building a resilient ecosystem where stablecoins work in tandem to shape the future of finance," said Eddie Hui, Co-President and Chief Operating Officer of MetaComp. "We are proud to support RLUSD as a dealer and to bring it onto StableX, enabling faster, smarter, and more cost-effective cross-border payments for merchants and settlement for institutions."
RLUSD is now available on StableX, adding to a suite of digital currencies that can be traded and utilised for cross-border transactions on the platform. StableX is MetaComp's proprietary programmable FX and cross-border infrastructure, which is designed to optimise liquidity and settlement efficiency. The platform pairs RLUSD with over 31 currencies, allowing institutions to carry out fast and secure cross-border settlements.
Stablecoin features
Ripple's RLUSD is designed to maintain a constant value of one US dollar. It is natively issued on the XRP Ledger and Ethereum blockchains and is fully backed by a segregated reserve of cash and cash equivalents. The coin is redeemable 1:1 for US dollars, and is intended to enable real-time, secure, and compliant payments, catering to exchanges, fintech startups, and crypto onramps, among others.
Standard Custody, which issues RLUSD, operates under the supervision of the New York Department of Financial Services (NYDFS), with requirements to maintain 100% highly liquid, short-term, and transparent reserves. The company also implements NYDFS's customer protection and reserve requirements and operates under strict service level agreements (SLAs) for redemption processes.
Institutional compliance and infrastructure
MetaComp holds a licence from MAS under the Payment Services Act 2019 and is structured to provide a regulated and secure environment for institutions navigating both traditional and digital finance. Its operations include over-the-counter (OTC) and exchange trading, fiat payment rails, regulated digital asset custody, and prime brokerage services. MetaComp is a subsidiary of Alpha Ladder Finance, a MAS-licensed Capital Markets Services (CMS) licensee and Recognised Market Operator (RMO).
MetaComp's business-to-business and partners-to-clients model is intended to support regulated financial activity, ensuring that institutions, payment service providers, and global enterprises can access digital asset services with compliance and security at the forefront.
Programmable FX platform
The company's latest offering, StableX, functions as an integrated FX and liquidity routing infrastructure designed to accelerate and simplify cross-border money flows. By leveraging stablecoins such as RLUSD, StableX aims to provide competitive and swift fund movement for institutional clients while maintaining transparency and compliance with relevant financial regulations.
RLUSD's deployment on the StableX platform is intended to enhance access to USD-backed liquidity for regional and global institutions, boosting the speed and efficiency of international payments for businesses using MetaComp's ecosystem.
