⚡ Ripple Announces Key Partners for RLUSD Stablecoin
posted 15 Oct 2024
Ripple, a leading digital asset infrastructure provider, has announced its partners for the launch of the RLUSD stablecoin. Bitstamp, Uphold, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish will be collaborating on this initiative. Market makers B2C2 and Keyrock are also on board to support RLUSD’s liquidity.
Additionally, the RLUSD Advisory Board has welcomed Sheila Bair, former FDIC Chair, David Puth, former JPMorgan executive, and Ripple’s Executive Chairman Chris Larsen.
This major announcement was made on October 15, 2024, at the Ripple Swell conference in Miami.
Ripple recently underscored that the launch of RLUSD is central to their vision of being a primary facilitator for real-world asset tokenization.
Our payment solutions will leverage RLUSD, XRP, and other digital assets to enable faster, more reliable, and cost-effective cross-border paymentssaid Ripple's CEO.e.
RLUSD offers the stability of fiat money paired with blockchain’s security and speed, making it perfect for:
- Global Payments: RLUSD will be a core component of Ripple’s cross-border payment solution, ensuring fast, cost-effective, and secure transactions.
- Fiat On/Off-Ramp: RLUSD will bridge the gap between fiat currencies and the crypto space.
- Real-World Asset Tokenization: RLUSD will provide the necessary liquidity, settlement capabilities, and trade options for tokenized real-world assets.
RLUSD will be backed by U.S. Treasury bills, dollar-denominated deposits, and fiat reserves. As of now, the stablecoin is undergoing testing on both the XRP Ledger and Ethereum networks.
The precise launch date hasn’t been revealed yet. However, at Korea Blockchain Week, Ripple’s CEO Brad Garlinghouse indicated that the RLUSD stablecoin should be launched “in weeks, not months.”
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