Ripple launches RLUSD stablecoin with global partners

Ripple has announced its exchange partners and customers for RLUSD, a USD-denominated stablecoin designed for enterprise use.

Ripple, known for its digital asset infrastructure for financial institutions, is launching RLUSD with strategic partnerships enabling global availability on various exchanges and platforms such as Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.

Brad Garlinghouse, Ripple CEO, stated, "With our initial exchange partners, clear utility and demand for RLUSD, and a strong focus on regulatory compliance, Ripple's stablecoin is poised to become the gold standard for enterprise-grade stablecoins. Customers and partners have been asking for high-quality stablecoins like RLUSD to use across various financial use cases, such as payments, tokenisation of real-world assets, and decentralised finance. Our payment solutions will leverage RLUSD, XRP, and other digital assets to enable faster, more reliable, and cost-effective cross-border payments."

Leading market makers B2C2 and Keyrock are set to support RLUSD liquidity, encouraging wider market adoption.

Ripple's advisory board for RLUSD includes notable figures such as former FDIC Chair Sheila Bair, former CENTRE Consortium CEO and JPMorgan executive David Puth, and Ripple Executive Chairman Chris Larsen. The board will guide the stablecoin's introduction to ensure responsible market integration and compliance.

Sheila Bair expressed, "Stablecoins will play a key role in modernising our finance infrastructure and broadening financial inclusion. I am honoured to join Ripple's advisory board as they launch their stablecoin with a compliance-first approach. As the digital assets industry grows, responsible innovation will be paramount to their adoption, prioritising both consumer protection and financial stability."

David Puth remarked, "I'm excited to join Ripple's advisory board to support their efforts in the launch of RLUSD. Stablecoins are a critical component in the evolution of the digital economy, providing a bridge between traditional finance and the crypto market. They offer the stability needed for transactions, while utilising blockchain technology to enhance transparency and efficiency. Ripple has consistently demonstrated its commitment to building secure, compliant, and accessible enterprise solutions, and RLUSD is no exception."

RLUSD is tailored for various enterprise applications. It stabilises transactions by combining fiat currency stability with blockchain efficiency. Ripple's enterprise-grade solutions aim to enhance liquidity, settlement, and collateralisation for trading real-world assets (RWA), complemented by on- and off-ramping capabilities that alleviate price volatility for users transitioning between crypto and fiat currencies.

MoonPay CEO Ivan Soto-Wright stated, "We're impressed with Ripple's commitment to advancing the stablecoin market and unlocking new, institutional use cases with RLUSD. While we're still in the early days of stablecoins, we believe they will eventually play an important role in our financial system. We're thrilled to add RLUSD to the growing list of stablecoins available on MoonPay."

CEO of B2C2 US, Cactus Raazi commented, "We are excited to partner with Ripple on the launch of RLUSD. Trusted, regulation-compliant stablecoins are fundamental for building robust, resilient digital assets marketplaces, supporting efficient on- and off-ramping, payments, and asset tokenisation. As a leading liquidity provider for institutional digital assets, B2C2 supports the development of enterprise-grade solutions across the market."

Ripple's RLUSD is supported on the XRP Ledger and Ethereum blockchains, promising increased utility and credibility in the digital asset ecosystem. Each RLUSD token is backed by USD dollar deposits, and US government bonds, with transparency supported by BPM-conducted monthly audits.

CEO of Independent Reserve, Adrian Przelozny, stated, "The demand for stablecoins has surged with their proven use case in various financial applications. As a long-standing partner of Ripple, Independent Reserve is excited to be one of the first crypto exchanges to bring RLUSD to our customers across APAC. This milestone underscores the strong trust and collaboration we've built over the years, and our shared commitment to transforming financial services."