Ripple’s RLUSD Stablecoin Goes Live: Transforming Cross-Border Payments.
Ripple’s much-anticipated stablecoin, RLUSD, has officially launched on global exchanges following regulatory approval from the New York Department of Financial Services (NYDFS).
Designed to revolutionize cross-border payments, RLUSD offers users a fast, seamless, and accessible solution for transferring money globally, anytime, anywhere.What is RLUSD?RLUSD is a stablecoin pegged to the US dollar, issued on both the XRP Ledger and Ethereum blockchains. Fully backed by a cash reserve, it maintains a 1:1 redeemability with USD, ensuring stability and reliability.
Key Features of RLUSD
- Regulatory Compliance: RLUSD is among the few stablecoins to receive NYDFS approval, bolstering its credibility and trustworthiness.
- Seamless On/Off Ramps: Users can effortlessly convert between RLUSD and fiat currencies, bridging the gap between traditional finance and cryptocurrency.
- Real-World Asset Integration: RLUSD enables businesses and individuals to manage funds tied to real-world assets efficiently, offering a secure and reliable option for transactions.
A New Era for Cross-Border Payments
With RLUSD, Ripple aims to address long-standing challenges in the cross-border payments ecosystem. Its integration on major global exchanges provides unparalleled accessibility, making it a game-changer for individuals and businesses seeking to transfer funds quickly and cost-effectively.
The launch of RLUSD marks a significant milestone in Ripple’s mission to modernize financial systems and highlights its commitment to delivering innovative solutions for global payments.
RLUSD is live on major global exchanges like MoonPay, B2C2, Keyrock, Coinmena and will be live on other exchanges very soon.
Why use Ripple USD will be stable?
According to Ripple , Stability can’t exist without accountability. Ripple USD is built with regulatory compliance as a defining feature, bringing with it an opportunity for developers, payment providers, exchanges and others to benefit from the stability and transparency Ripple is uniquely able to provide with the first enterprise-ready stablecoin. With over a decade of experience at the intersection of crypto and finance, and a proven track record working with regulators and policymakers across the globe, Ripple is accelerating the digital asset economy with RLUSD.
Former RBI Governor Raghuram Rajan and Kenneth Montgomery ( a former executive at Federal Reserve Bank of Boston,) will join Ripple’s advisory board to offer strategic guidance to support the stability and growth of RLUSD.