Ripple’s RLUSD stablecoin debuts globally

Ripple has confirmed that its RLUSD stablecoin, backed by the US dollar, will begin trading globally on 17 December. The launch follows approval from the New York Department of Financial Services (NYDFS) on 10 December. Ripple’s RLUSD stablecoin is 100% supported by US dollar deposits, short-term government Treasurys, and other cash equivalents. Initially, it will be available on major crypto platforms such as Uphold, MoonPay, and Archax, with plans for further listings in the coming weeks.

Ripple aims to target global adoption of RLUSD, with its partner network facilitating its use across regions including the Americas, Asia-Pacific, the UK, and the Middle East. The company plans to integrate RLUSD into its Ripple Payments protocol by early 2025 to support cross-border settlement and treasury remittance. Ripple also envisions RLUSD playing a role in decentralized finance protocols and trading tokenized real-world assets on-chain.

As part of the RLUSD launch, Ripple has appointed former banking officials, including Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery, former vice president of the Federal Reserve Bank of Boston, to its advisory board. These appointments are aimed at strengthening the stablecoin’s regulatory and operational strategy. Ripple’s focus on compliance and reliability aims to position RLUSD as a leading player in the future of global payments.