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Ripple has officially launched Ripple USD across crypto exchanges after approval from the New York State Department of Financial Services.
Author: Sahil Thakur
Ripple has officially launched Ripple USD (RLUSD), its U.S. dollar-backed stablecoin, across major crypto exchanges. The launch comes after regulatory approval from the New York State Department of Financial Services (NYDFS), solidifying Ripple’s presence in the growing stablecoin sector.
The RLUSD stablecoin is natively available on both Ethereum and Ripple’s XRP Ledger, offering scalability and interoperability. Key exchanges, including Uphold, MoonPay, CoinMENA, ArchaxEx, and Bitso, now support RLUSD trading. Additional platforms, such as Bullish, Mercado Bitcoin, Bitstamp, and Zero Hash, are expected to follow.
Ripple CEO Brad Garlinghouse emphasized RLUSD’s role in providing “real utility” while ensuring compliance and trust. As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD,” he said.
Ripple describes RLUSD as a fully backed stablecoin, supported by U.S. dollar deposits, government bonds, and cash equivalents. Its issuance under NYDFS’s limited-purpose trust charter ensures stability and liquidity, appealing to institutional and enterprise users.
The stablecoin will address various institutional use cases, including faster cross-border settlements, optimized treasury liquidity, and collateral for tokenized assets. Ripple plans to integrate RLUSD into its payment platform early next year to facilitate real-time cross-border transactions.
Ripple Payments, which processes over $70 billion annually across 90 payout markets, aims to use RLUSD as a key component in its operations.
Ripple’s RLUSD enters a competitive market dominated by Tether (USDT) and Circle’s USDC. By focusing on utility and compliance, Ripple positions RLUSD as a viable alternative for institutions. The stablecoin’s dual blockchain support and enterprise-grade features highlight its potential for decentralized finance (DeFi) applications.
Jack McDonald, Ripple’s senior vice president of stablecoins, described RLUSD as “mile 1 of the marathon,” emphasizing its long-term roadmap for growth.
Ripple also announced the addition of two financial leaders to its RLUSD advisory board: Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery, former COO of the Federal Reserve Bank of Boston.
Rajan highlighted RLUSD’s regulatory compliance and its potential to form the foundation of private payment systems. Montgomery praised RLUSD for addressing inefficiencies in traditional finance and modernizing global payments.
These appointments bolster an advisory board that already includes Sheila Bair, former FDIC Chair, and David Puth, former CEO of the CENTRE Consortium.
Ripple’s native cryptocurrency XRP gained 4% after the RLUSD launch, reflecting positive sentiment. XRP has surged 27% in the past week and 141% over the past month.
The launch of RLUSD marks a pivotal step for Ripple in bridging traditional finance and blockchain technology, setting a new standard for compliance-driven stablecoins in the global market.
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