Ripple Launches RLUSD Stablecoin with New Partners

Ripple has announced the launch of RLUSD, a U.S. dollar-pegged stablecoin designed to enhance international transactions and backed by U.S. dollar reserves. Key exchange partners include Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish, with market makers B2C2 and Keyrock supporting liquidity. RLUSD aims to complement XRP, serving as a bridge asset to improve liquidity and facilitate cross-border payments. Ripple is committed to regulatory compliance, awaiting approval from the New York Department of Financial Services, and has formed an advisory board with figures like former FDIC Chair Sheila Bair. The stablecoin is positioned to compete in the $160 billion stablecoin market by offering secure, transparent, and efficient financial solutions. Ripple's CEO, Brad Garlinghouse, emphasized the potential of RLUSD in decentralized finance and tokenization of real-world assets, aspiring to set a new standard for enterprise-grade stablecoins.