Ripple, the blockchain innovator behind XRP, has announced the official trading launch of its Ripple USD (RLUSD) stablecoin on December 17, marking a significant milestone for the company.
RLUSD, a dollar-backed stablecoin introduced earlier this year, is now ready to enter the global financial landscape. Ripple confirmed the launch following regulatory approval from the New York Department of Financial Services (NYDFS), granted on December 10.
Backed by Regulatory Approval
With the NYDFS green light, RLUSD is poised to establish itself in cryptocurrency and traditional financial markets. Ripple has highlighted its commitment to compliance, positioning RLUSD as a stable and transparent alternative for digital payments and settlements.
Where RLUSD Will Be Available
Initially, RLUSD will be listed on prominent platforms such as Uphold, MoonPay, Archax, and CoinMENA. Ripple also plans to expand its availability to exchanges like Bitso, Bitstamp, Bullish, and Independent Reserve in the coming weeks.
Ripple emphasized that its network of partners would drive the stablecoin’s adoption across key regions, including the Americas, Asia-Pacific, the Middle East, and the United Kingdom.
A Tool for Global Payments by 2025
Ripple envisions RLUSD as more than a stablecoin. The company aims to integrate it into its Ripple Payments system by early 2025. This would enable enterprises to use RLUSD for cross-border settlements and treasury operations.
Ripple Payments has already processed $70 billion in transactions across 90 countries, and RLUSD will further enhance its utility. Plans also include incorporating RLUSD into decentralized finance (DeFi) platforms, supporting tokenized assets, and enabling seamless on-ramp and off-ramp options.
High-Profile Experts Join RLUSD Advisory Board
Ripple has assembled a distinguished advisory board to guide the development and growth of RLUSD. Among the new appointments are Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery, former COO of the Federal Reserve Bank of Boston.
These experts will contribute insights on regulatory and operational strategies to ensure RLUSD’s reliability and scalability.
“Stablecoins have the potential to reshape private payments by offering security and efficiency,” said Rajan. “RLUSD’s focus on trust and compliance sets a new benchmark for the industry.”
Montgomery echoed this sentiment, highlighting the transformative impact of stablecoins on global payments.
Ripple’s advisory board also includes other prominent figures such as Sheila Bair, former FDIC chair, and Chris Larsen, Ripple’s co-founder and executive chairman.
As RLUSD enters the market, Ripple aims to redefine how stablecoins can be leveraged for global payments, financial inclusivity, and enterprise solutions.
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