Ripple Reveals RLUSD Stablecoin Partners for Worldwide Distribution

cryptonews.com:

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

At the Ripple Swell 2024 conference on Tuesday, Ripple revealed its partnerships with major global exchanges to distribute RLUSD, a USD-denominated stablecoin designed for enterprise-grade financial applications.

Today at #RippleSwell, we’re proud to announce our Ripple USD exchange partners.

Upon regulatory approval, $RLUSD will be globally available for institutions and users from @UpholdInc, @BitStamp, @Bitso, @Moonpay, @Indereserve, @CoinMENA, and @Bullish. https://t.co/iZ7L1MHpn3

According to a press release, RLUSD is specifically crafted for enterprise use, emphasizing regulatory compliance and financial trustworthiness.

Ripple has also assembled a distinguished advisory board to guide the stablecoin’s development.

This includes notable figures such as former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair and Ripple co-founder Chris Larsen.

The stablecoin will operate under a compliance-first approach and will be issued through a New York Trust Company Charter, ensuring it remains under proper regulatory oversight.

Ripple announced that RLUSD will be available on major exchanges, including Bitstamp, Bitso, and Bullish, catering to both institutional and retail users.

“With our initial exchange partners, the clear utility and demand for RLUSD, and a strong focus on regulatory compliance, Ripple’s stablecoin is poised to become the gold standard for enterprise-grade stablecoins,” said Ripple CEO Brad Garlinghouse.

One of RLUSD’s key advantages is its use in facilitating cross-border payments.

The stablecoin will