CandleFocus Ripple CEO Breaks Silence on Ripple USD (RLUSD) Stablecoin Ahead of Launch
2024-10-16
Author: Content Editor
Ripple CEO Brad Garlinghouse has announced the imminent launch of the company's stablecoin, RLUSD. Garlinghouse claims that RLUSD will become the "gold standard" for enterprise-grade stablecoins, built on trust, liquidity, and compliance. The stablecoin is backed by short-term U.S. Treasury bonds, dollar deposits, and cash equivalents, and an independent report on its reserves will be issued monthly. The stablecoin is currently being tested on the XRP Ledger and Ethereum networks, and the company is waiting for approval from the New York Department of Financial Services for its public launch. Garlinghouse has expressed optimism that the launch could happen in "weeks, not months."
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