Ripple, the well-known platform providing financial entities with infrastructure for digital assets, has announced the launch of its stablecoin $RLUSD. As per Ripple, Ripple USD ($RLUSD) will launch on crypto exchanges across the globe on December 17, offering enterprise-scale utility, compliance, and trust. The platform took to social media to announce this launch.
Ripple Launches Its Exclusive Stablecoin $RLUSD Across Crypto Exchanges Worldwide
Ripple revealed in its announcement that its latest $RLUSD stablecoin intends to advance the financial ecosystem. The platform will reportedly offer the stablecoin on CoinMENA, Archax, MoonPay, Bitso, and Uphold at first. Nonetheless, the additional listings of the token will include Zero Hash, Independent Reserve, Mercado Bitcoin, Bitstamp, and Bullish.
The platform ensures complete support for $RLUSD tokens by USD deposits, cash equivalents, and government bonds for stability, liquidity, and reliability. In addition to this, Ripple also pays significant attention to transparency. For this purpose, it will reportedly release monthly, 3rd-party verifications of the reserve assets for $RLUSD under an autonomous auditing firm.
Ensuring Unparalleled Compliance to Increase Adoption in the Middle East, UK, Asia-Pacific and America
Ripple’s CEO Brad Garlinghouse commented on this launch, emphasizing the regulatory sector. He asserted that the platform deliberately chose “NYDFS limited purpose trust company charter” for the stablecoin’s launch. Garlinghouse added that the increasing clarity in the US regulations paves the way for increased stablecoin adoption. The stablecoin $RLUSD reportedly focuses on driving usage and adoption across the Middle East, UK, Asia-Pacific, and American regions.
According to Ripple, $RLUSD aims at facilitating rapid cross-border payment settlements and providing liquidity for treasury operations and remittances. Apart from that, the token also focuses on delivering seamless integration with DeFi protocols. Moreover, it creates a bridge between conventional fiat and crypto assets. Furthermore, $RLUSD establishes the standards for the latest stablecoins by merging regulatory compliance and innovative operability.
