Ripple has launched its U.S. dollar-pegged stablecoin, Ripple USD (RLUSD), on major cryptocurrency exchanges, marking a significant milestone for the company.
The rollout began on December 17, following regulatory approval from the New York State Department of Financial Services (NYDFS). RLUSD is now live on both the Ethereum network and Ripple’s XRP Ledger (XRPL), offering cross-chain compatibility.
The stablecoin is supported on exchanges like Uphold, MoonPay, CoinMENA, ArchaxEx, and Bitso, with additional platforms, including Bullish, Bitstamp, and Independent Reserve, expected to follow.
Competing with market leaders Tether (USDT) and Circle’s USD Coin (USDC), RLUSD offers a 1:1 USD-backed stablecoin aimed at facilitating global payments, on/off-ramping, and tokenized real-world asset transactions.
Ripple’s senior VP of stablecoins, Jack McDonald, described the launch as “mile 1 of the marathon,” signaling further development ahead.
Image Credit: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
