Ripple’s new United States dollar-backed stablecoin, Ripple USD (RLUSD), will make its global trading debut on 17 December 2024. Initially available on platforms like Uphold, MoonPay, Archax, and CoinMENA, RLUSD promises a secure, dollar-backed solution for the cryptocurrency market.

Regulatory Greenlight and Backing

The stablecoin’s launch follows approval from the New York Department of Financial Services (NYDFS) on 10 December, marking a significant milestone for Ripple. RLUSD is fully backed 1:1 by US dollar deposits, short-term US Treasurys, and cash equivalents.

Global Reach and Future Expansion
Ripple aims to drive RLUSD’s adoption across regions including the Americas, Asia-Pacific, the United Kingdom, and the Middle East. Additional listings are planned in the coming weeks on exchanges such as Bitso, Bitstamp, Mercado Bitcoin, and Zero Hash.

Integration into Payments
In 2025, RLUSD will be integrated into Ripple’s digital payment protocol, Ripple Payments, to facilitate global cross-border transactions. The protocol has already processed $70 billion across 90 markets. RLUSD is also set to support decentralised finance (DeFi) protocols and tokenised real-world asset trading.

High-Profile Advisory Board
Ripple has formed a dedicated advisory board for RLUSD, including former Reserve Bank of India Governor Raghuram Rajan and Kenneth Montgomery, ex-Chief Operating Officer of the Federal Reserve Bank of Boston. The board also includes Sheila Bair, former FDIC Chair, and Ripple Co-founder Chris Larsen.

Rajan highlighted the potential of stablecoins, stating, “RLUSD aims to set new standards for trust and shape the future of payments.” Montgomery added, “Stablecoins are becoming a cornerstone of payments, offering speed, efficiency, and cost-effectiveness.”

Ripple’s RLUSD launch reflects its vision for a secure, scalable, and compliant stablecoin, paving the way for broader adoption in global payments and finance.