New York, Thursday, October 17, 2024-At the Ripple Swell 2024 conference on Tuesday, Ripple announced new partnerships with major global exchanges for the distribution of RLUSD, a USD-denominated stablecoin designed for enterprise-level financial applications.
The RLUSD stablecoin emphasizes regulatory compliance and financial security, aiming to set a new standard in enterprise-grade digital currencies.
Ripple’s CEO Brad Garlinghouse introduced RLUSD as a tool for cross-border transactions, highlighting its potential to reduce volatility and enhance the efficiency of global payments. RLUSD will serve as a stable bridge for cross-border payments, supported by liquidity providers B2C2 and Keyrock.
It will also play a pivotal role in on-chain activities like real-world asset tokenization, including the trading of commodities and securities.
The stablecoin will be listed on major exchanges such as Bitstamp, Bitso, and Bullish, targeting both institutional and retail users. Garlinghouse added that Ripple is focused on compliance-first approaches to stablecoin issuance, leveraging a New York Trust Company Charter for regulatory oversight.
Ripple has also formed an advisory board, including prominent figures like former FDIC Chair Sheila Bair and Ripple co-founder Chris Larsen, to guide RLUSD’s development.
To ensure transparency, Ripple will issue monthly reports on RLUSD’s reserves, which are fully backed by US dollar deposits, government bonds, and cash equivalents.
