Ripple Unveils RLUSD Stablecoin Launch

Ripple has announced the launch of its new stablecoin, Ripple USD (RLUSD), which will be available on global exchanges starting December 17. The RLUSD will initially be accessible on major platforms such as Uphold, Bitso, MoonPay, Archax, and CoinMENA, with plans to expand to Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, Zero Hash, and others in the near future.

Each RLUSD token is meticulously backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents, ensuring its stability, reliability, and liquidity. Ripple is committed to transparency by releasing monthly reports verified by an independent auditing firm.

This launch follows the approval from the New York Department of Financial Services (NYDFS), marking a significant milestone for Ripple in the stablecoin market.