Ripple Labs announced the global launch of its new USD-denominated stablecoin, RLUSD, which will be available for trading on December 18, 2024. The initiative is designed to streamline cross-border payments and enhance liquidity, enabling users to make and receive payments more efficiently. In a statement, Ripple CEO Brad Garlinghouse emphasized the significance of RLUSD in providing a ‘secure and compliant way to transact in the digital economy.’ The launch follows a successful trial period and regulatory approval, which underscores Ripple’s commitment to maintaining compliance in the financial technology sector. ‘With RLUSD, we are raising the standard for stablecoins, offering unmatched utility, experience, and compliance,’ added Garlinghouse. The coin will be leveraged on Ripple’s existing payment network, which facilitates over 400 financial institutions and has been pivotal in the company’s ongoing efforts to innovate in digital payments. Ripple has also stated that RLUSD will be fully backed by reserves and subject to monthly audits to ensure transparency, attracting a wide range of users from individual traders to large institutional clients. The announcement has elicited anticipation within the crypto community and among financial regulators globally, as it addresses previous concerns regarding stablecoin regulation and operational integrity.
Ripple Launches New USD Stablecoin RLUSD with Global Trading Availability
