Ripple Partners with Global Exchanges to Launch USD-Backed Stablecoin Focused on Trust and Compliance
Ripple has officially launched Ripple USD (RLUSD), a stablecoin designed for institutional use and backed by USD. The aim is to provide reliable, regulated digital asset solutions for cross-border payments and other financial transactions.
RLUSD is set up to succeed with the backing of market makers B2C2 and Keyrock, offering strong liquidity and wide market appeal. The company has gathered an advisory council of high stature, including Sheila Bair, the former Chair of the FDIC, and David Puth, Vice Chairman of Partners Capital. These gurus will lead the new innovation to the market but will adhere to regulatory frameworks.
Bair highlighted the importance of compliance in the evolving digital assets industry, stating: “Stablecoins will play a key role in modernizing our financial infrastructure and broadening financial inclusion. I am honored to join Ripple’s advisory board as they launch their stablecoin with a compliance-first approach.”
The use cases for RLUSD go way beyond making a payment.
Ripple even sees the use of RLUSD to tokenize RWA, which includes commodities and securities, thus allowing speedier, more efficient transactions with lower costs. Also, RLUSD offers seamless on/off ramp from traditional currencies into and out of the crypto space, providing stability and liquidity to end-users.
