Ripple launches stablecoin RLUSD

Ripple has officially launched its RLUSD stablecoin today, following regulatory approval received last week. RLUSD is a traditional stablecoin backed entirely by U.S. Treasury bonds, bank deposits, and cash reserves, under the stringent New York (NYDFS) trust charter.

The first crypto exchanges to support RLUSD include Uphold, Bitso, MoonPay, Archax, and CoinMENA. Additional platforms, such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash, are expected to join soon. Compared to two months ago, this is a significant expansion, with Archax and Mercado Bitcoin among the latest additions.

“From the outset, Ripple strategically chose to launch RLUSD under the NYDFS trust charter, recognized globally as a top-tier regulatory framework,” said Ripple CEO Brad Garlinghouse. “As regulatory clarity improves in the U.S., we anticipate wider adoption of stablecoins like RLUSD, which deliver tangible utility backed by trust and industry expertise.”

Ripple revealed that its cumulative transaction volume has reached $70 billion, while the market capitalization of its XRP token stands at over $152 billion.

Potential use cases for RLUSD include cross-border transactions, corporate treasury solutions, DeFi applications, and collateral for margin trading. A key advantage is Ripple’s infrastructure, which spans more than 90 global payout markets.

Additionally, two new members have joined RLUSD’s advisory board: Raghuram Rajan, former Governor of the Reserve Bank of India, and Kenneth Montgomery, former First VP of the Federal Reserve Bank of Boston. They join existing advisors, including Sheila Bair, former FDIC Chair, and Ripple Co-Founder Chris Larsen.