Ripple RLUSD Stablecoin to Power Tokenization and Global Payments
Ripple is getting ready to shake up the stablecoin market. The company just named major crypto exchanges and market makers that will support the launch of its new Ripple RLUSD stablecoin. It is set to go live soon, pending one last step: approval from New York’s financial watchdog.
The RLUSD stablecoin, pegged to the U.S. dollar, is now operationally ready. It’s only waiting for the green light from the New York Department of Financial Services (NYDFS). Ripple confirmed this during its annual Swell conference in Miami.
Several big-name exchanges are already on board:
● Bitstamp, Bitso, Bullish, CoinMENA, Independent Reserve, MoonPay, and Uphold will handle the initial rollout.
● Keyrock and B2C2, two well-known crypto trading firms, will act as market makers.
That means they’ll help keep the token’s price stable and liquid on the markets.
However, Ripple isn’t entering the stablecoin space quietly. It’s been building a strong support system from day one. Two seasoned financial veterans just joined the advisory board: former FDIC Chair Sheila Bair and David Puth, who helped create the USD Coin (USDC) standards as Centre’s CEO.
Moreover, Ripple isn’t looking to turn RLUSD stablecoin into another digital dollar, but move beyond that. The company is aiming for RLUSD to play a key role in tokenizing real-world assets. That includes bonds, real estate, and other financial instruments. To do that, you need a stablecoin that people trust. Ripple wants to introduce the one that’s well-managed, transparent, and backed by solid reserves.
RLUSD has just that as it’s backed by short-term U.S. Treasuries, cash equivalents, and traditional dollar deposits. The company also plans to publish monthly reserve reports, which will be independently verified by BPM, a San Francisco-based accounting firm.
The stablecoin is already running test pilots on two networks: Ethereum and the XRP Ledger. So, once NYDFS gives its nod, RLUSD is expected to launch quickly. Ripple CEO Brad Garlinghouse hinted last month that the rollout could happen in weeks rather than months.
Ripple’s hopes on RLUSD Stablecoin
Lately, Stablecoins are becoming key to crypto growth as they balance out the volatility factor without sacrificing the quick money transfers cryptocurrencies are known for. They're especially useful for cross-border payments and everyday transactions. Moreover, Stablecoins have found uses in the places where other currencies aren’t as stable. Ripple is hoping RLUSD can become a major player in this $170 billion market.
This move also highlights Ripple’s evolution. The company is primarily known for its payment solutions tied to XRP. But now it’s expanding into stablecoins and digital asset tokenization. That opens up a new chapter, not just for Ripple, but for how blockchain connects with traditional finance.
Key Takeaways:
● Ripple named exchange and market maker partners for the Ripple RLUSD stablecoin ahead of launch.
● The token is operationally ready and awaiting NYDFS approval to go public.
● U.S. Treasuries, cash equivalents, and dollar deposits will back RLUSD.
● The independent auditor, BPM, will publish monthly reserve reports.
● RLUSD is being tested on Ethereum and XRP Ledger networks.
● Ripple plans to use the stablecoin for payments and the tokenization of real-world assets.
● Former FDIC Chair Sheila Bair and Centre’s ex-CEO David Puth joined the stablecoin’s advisory board.
● CEO Brad Garlinghouse says RLUSD could go live within weeks.
