Ripple has officially announced the global launch of its USD-backed stablecoin, RLUSD, set for December 17, 2024. Designed to redefine stability, compliance, and utility in the financial ecosystem, RLUSD will debut on major platforms like Uphold, MoonPay, CoinMENA, Bitso, and Archax, with plans for further exchange integrations.
👉 Discover how RLUSD could transform cross-border payments
RLUSD’s Credentials: Transparency and Compliance
Backing and Audits
- Collateral: U.S. dollar deposits, government bonds, and cash equivalents.
- Transparency: Monthly third-party audits of reserve assets.
Regulatory Approval
- Launched under the NYDFS limited-purpose trust charter, hailed by Ripple CEO Brad Garlinghouse as the "premier regulatory standard worldwide."
- Garlinghouse emphasized RLUSD’s role in bridging regulatory clarity with real-world utility.
"As the U.S. moves toward clearer regulations, we expect greater adoption of stablecoins like RLUSD."
— Brad Garlinghouse, Ripple CEO
Utility and Global Adoption
Key Use Cases
- Cross-border payments: Instant settlements for financial institutions.
- DeFi integration: Liquidity for remittances and treasury operations.
- Tokenized assets: Collateral for commodities/securities.
Multi-Chain Accessibility
- Available on XRP Ledger and Ethereum, enhancing scalability.
- Ripple Payments will integrate RLUSD in 2025, potentially boosting its $70B annual transaction volume across 90+ markets.
👉 Explore RLUSD’s impact on DeFi
Expert Advisory Board
Ripple’s RLUSD oversight includes:
- Raghuram Rajan: Ex-Governor, Reserve Bank of India.
- Kenneth Montgomery: Former COO, Federal Reserve Bank of Boston.
- Sheila Bair: Former FDIC Chair.
XRP Price Reaction
Following the announcement, XRP surged 5.7% to $2.56**, breaking key resistance levels. Analysts speculate it could challenge its 2024 peak of **$2.86.
FAQ Section
1. When does RLUSD launch?
December 17, 2024.
2. Which exchanges will list RLUSD?
Initial listings include Uphold, MoonPay, and Bitso; more to follow.
3. How is RLUSD regulated?
Under NYDFS charter, with monthly audited reserves.
4. What blockchains support RLUSD?
XRP Ledger and Ethereum.