CandleFocus Ripple Announces The Launch of Stablecoin RLUSD
2024-11-15
Author: Content Editor
Ripple is launching a stablecoin called Ripple USD (RLUSD) that aims to improve cross-border payments and meet the demand for USD-denominated transactions. RLUSD will bridge traditional financial systems with blockchain technology, catering to banks, crypto exchanges, and fintechs. The stablecoin will complement Ripple's native cryptocurrency, XRP, in their payments infrastructure and will be issued on both the XRP Ledger and Ethereum. RLUSD will be backed by U.S. dollar reserves and audited monthly by third parties to ensure transparency. Ripple plans to issue RLUSD through its New York Trust license, aligning with NYDFS guidance on stablecoin issuance.
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