Ripple Unveils Key Partners for The RLUSD Stablecoin

Ripple Labs Inc., a leading digital asset infrastructure provider, announced a major development in a major move toward revolutionizing cross-border payments. 

In a notable development, the firm announced the names of its initial exchange and platform partners for its upcoming stablecoin, RLUSD. 

A New Era for Enterprise-Grade Stablecoins

Ripple is gearing up to make a substantial impact with the release of this stablecoin. The new partners include Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. 

Ripple also revealed that market makers B2C2 and Keyrock will support the liquidity of RLUSD, setting the stage for its launch. In a recent interview, Ripple’s CEO, Brad Garlinghouse, expressed confidence in RLUSD’s market potential. 

He emphasized that its introduction is poised to set a new standard for enterprise-grade stablecoins. The digital asset class is designed to combine stability, liquidity, and regulatory compliance. Above all, it will play a vital role in advancing Ripple’s payment solutions.

The company plans to integrate RLUSD alongside XRP and other digital assets, making cross-border transactions faster, more reliable, and cost-effective. 

The blockchain payment form has recently intensified its on-chain activities regarding the upcoming stablecoin. Earlier this month, the firm engaged in massive minting and burning of RLUSD to ensure the platform’s security and reliability. 

A few days later, Ripple transferred a massive 3.5 million RLUSD from a Ripple provider address to an unknown wallet. This notable activity sparked speculation within the crypto community. Though an official release date has not yet been set, Garlinghouse hinted that the stablecoin will launch “in weeks, not months.” 

RLUSD: Designed for Regulatory Compliance and Enterprise Solutions

In a press release, Garlinghouse disclosed that Ripple’s RLUSD is designed for enterprise use cases. It focuses on real-time global payments and bridging the gap between fiat and crypto. 

RLUSD will be a stable on/off-ramp, enabling companies to move seamlessly between traditional financial systems and digital assets. 

Each RLUSD token will be fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents. It will be issued under a New York Trust Company Charter. 

Impressively, it is set to operate on both the XRP Ledger and Ethereum blockchains. Garlinghouse also reiterated the firm’s commitment to regulatory compliance, ensuring that RLUSD meets the highest standards. 

Notably, Garlinghouse mentioned that he has no desire for Ripple’s RLUSD to go public in the U.S. This is primarily because of the Securities and Exchange Commission’s (SEC) quite adversarial approach toward virtual assets. 

Industry Veterans Guide RLUSD’s Path Forward

Ripple’s announcement also included the formation of an RLUSD Advisory Board. This board consists of industry experts who will guide the stablecoin’s entry into the market. 

The board consists of former U.S. Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, former CENTRE Consortium CEO and JPMorgan executive David Puth, and Ripple co-founder Chris Larsen. Together, they will help shape RLUSD’s growth and adoption strategy.

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