Independent Reserve, a crypto exchange in Singapore, has become the first in the city-state to list Ripple's USD-backed stablecoin, Ripple USD (RLUSD). Customers in Singapore can now trade RLUSD against Singapore Dollars and US Dollars on the exchange's order book and over-the-counter desk. The listing will be available on XRP Ledger and Ethereum networks and RLUSD is fully backed 1:1 by the US Dollar. Ripple will publish monthly third-party audits of RLUSD's reserve assets for transparency. This move aims to simplify global transactions by offering faster and more cost-effective solutions than traditional financial systems. Industry experts recognize RLUSD's potential as a game-changer in cross-border payments, benefiting corporations and SMEs.



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