Ripple USD (RLUSD) Now Live: Available on Uphold, Bitstamp, Bitso, and More
- Ripple partners with global exchanges to launch RLUSD, a USD-backed stablecoin focused on trust and compliance.
- Market makers B2C2 and Keyrock will ensure RLUSD liquidity, boosting its adoption.
- Ripples advisory board, led by former FDIC Chair Sheila Bair, ensures regulatory oversight for RLUSD.
Ripple has officially launched Ripple USD (RLUSD), a stablecoin designed for institutional use and backed by USD. It aims to provide reliable, regulated digital asset solutions for cross-border payments and other financial transactions.
The stablecoin will be available globally with the courtesy of leading exchanges such as Uphold, Bitstamp, and Bitso, among others. Brad Garlinghouse, CEO of Ripple, asserts the utility of RLUSD. Stablecoins like RLUSD are an enterprise-grade solution for a multitude of financial use cases such as tokenization and DeFi.
The company hopes to fill in the demand for compliant, high-quality stablecoins that bridge traditional finance and crypto. RLUSD is set up to succeed with the backing of market makers B2C2 and Keyrock, offering strong liquidity and wide market appeal.
Regulatory Focus with an Expert Advisory Board
RLUSD stands out by its sound of compliance. Issued under the New York Trust Company Charter, it really attains strict regulatory standards. The company has gathered an advisory council of high stature: Sheila Bair, the former Chair of the FDIC, and David Puth, Vice Chairman of Partners Capital. These gurus will lead the new innovation to the market but will adhere to regulatory frameworks.
Bair highlighted the importance of compliance in the evolving digital assets industry, stating:
Stablecoins will play a key role in modernizing our financial infrastructure and broadening financial inclusion. I am honored to join Ripples advisory board as they launch their stablecoin with a compliance-first approach.
Enterprise Applications and Broader Ecosystem
The use cases for RLUSD go way beyond making a payment. Ripple even sees the use of RLUSD to tokenize RWA, which includes commodities and securities, thus allowing speedier, more efficient transactions with lower costs. Also, RLUSD offers seamless on/off ramp from traditional currencies into and out of the crypto space, providing stability and liquidity to end-users.
The utility of this Ripple integration between the XRP Ledger and Ethereum is also likely to get a boost with its stablecoin, RLUSD, in the latest effort to encourage more decentralized finance and boost trading volumes. With a backstop of trusted reserves and monthly audits, RLUSD should be set to become a cornerstone for enterprise-grade stablecoins.
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Read more: https://www.tronweekly.com/ripple-usd-rlusd-live-available-on-uphold-more/
Text source: TronWeekly
