Ripple's Upcoming Stablecoin Launch

Digital asset infrastructure provider Ripple announced partnerships with Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish for the launch of its stablecoin, RLUSD.
Market makers B2C2 and Keyrock will also support the liquidity of the Ripple USD stablecoin.

Ripple CEO Brad Garlinghouse stated, "With our initial exchange partners, clear utility and demand for RLUSD, and a strong focus on regulatory compliance, Ripple’s stablecoin is poised to become the gold standard for enterprise-grade stablecoins."

He emphasized that their payment solutions will utilize RLUSD, XRP, and other digital assets for quicker, more reliable, and cost-effective cross-border payments. Garlinghouse mentioned that the stablecoin would launch in "weeks, not months," during a fireside chat at Korea Blockchain Week, but no official date has been confirmed. He expressed disinterest in Ripple going public in the U.S. due to the SEC's negative stance on crypto.

RLUSD, integrated into Ripple's cross-border payments network, is aimed at enterprise use cases, facilitating real-time global payments and serving as a stable bridge between fiat and crypto. The tokens will be fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents.

Set to launch on both the XRP Ledger and Ethereum blockchains under a New York Trust Company Charter, RLUSD will provide a compliant, liquid, and trusted USD stablecoin for developers and users.

RLUSD Advisory Board

Ripple has also formed an RLUSD Advisory Board, including former FDIC Chair Sheila Bair, former CENTRE Consortium CEO and JPMorgan executive David Puth, and Ripple co-founder Chris Larsen, to oversee the stablecoin's market introduction.

Bair noted, "Stablecoins will play a key role in modernizing our finance infrastructure and broadening financial inclusion. Responsible innovation will be paramount to their adoption, prioritizing both consumer protection and financial stability."

Puth added, "Stablecoins are a critical component in the evolution of the digital economy, providing a bridge between traditional finance and the crypto market. They offer stability needed for transactions while enhancing transparency and efficiency through blockchain technology."