Ripple has announced the upcoming launch of Ripple USD (RLUSD), a stablecoin intended for use in cross-border payments. The new stablecoin aims to enhance Ripple’s payment solutions by offering stability, efficiency and transparency. RLUSD will be natively issued on the XRP Ledger (XRPL) and Ethereum, offering a stable and accessible USD on-ramp to developers working on decentralized finance (DeFi) applications.
The stablecoin is structured to ensure transparency and will be backed by U.S. dollar reserves, audited monthly by third parties. Ripple plans to issue RLUSD through its New York Trust license, in line with NYDFS guidance on stablecoin issuance.
