Farewell to USDT and USDC? Ripple launches its own stablecoin RLUSD

Ripple launches its own stablecoin RLUSD on December 17. The coin is pegged to the US dollar at a 1:1 ratio and is available to users on five cryptocurrency exchanges: Uphold, Bitso, MoonPay, Archax, and CoinMENA. In the coming weeks, Ripple plans to expand the list of exchanges, including platforms such as Bitstamp, Bullish, Independent Reserve, and Mercado Bitcoin. RLUSD opens new opportunities for financial institutions, offering tools for fast transactions and integration into decentralized finance (DeFi).

The stablecoin relies on the XRP Ledger and Ethereum blockchains, allowing for flexible integration into various financial services. Each token is backed by deposits in US dollars, government bonds, and their equivalents, verified by independent monthly audits. Developers promise to publish information about the reserves here.

RLUSD released under a license from the New York Department of Financial Services (NYDFS).

The advisory board for the strategic development of RLUSD from Ripple consists of Raghuram Rajan, former Governor of the Reserve Bank of India, and Kenneth Montgomery, former First Vice President of the Federal Reserve Bank of Boston.

What can RLUSD do?

• Integration of RLUSD with Ripple Payments in 2025, which has already processed payments totaling $70 billion in 90+ countries, will allow instant cross-border payments.
• The Ripple stablecoin can be used for managing corporate reserves.
• RLUSD allows for quick transitions between the traditional financial system and cryptocurrencies.