Cross-border Solution Ripple Stablecoin RLUSD Is Set to Launch Later This Year

Key Points:

• Ripple stablecoin RLUSD is set to launch on the XRP Ledger and Ethereum later this year.
• CEO Brad Garlinghouse introduced RLUSD at the XRPL Apex summit, highlighting its potential to revolutionize cross-border payments.

Ripple has unveiled RLUSD, its upcoming 1:1 USD-backed stablecoin, which promises transparency and stability on both the XRP Ledger and Ethereum.

Ripple Stablecoin RLUSD Set to Launch Later This Year

Expected to launch later this year, Ripple stablecoin RLUSD is positioned to enhance the company’s product lineup and solidify its status in the evolving cryptocurrency landscape. This stablecoin targets businesses and individuals who need dependable digital currency transactions without the volatility typically associated with cryptocurrencies.

RLUSD’s integration into the Ripple network is poised to promote broader financial inclusivity and stimulate innovation. At the XRP Ledger Community Summit (XRPL Apex) in Amsterdam, Ripple CEO Brad Garlinghouse revealed the name of the stablecoin during a panel discussion. He remarked: “The name of the Ripple stablecoin is RLUSD; I like to call it Real USD or Ripple USD.”

Brad Garlinghouse Praises RLUSD

Garlinghouse highlighted that Ripple stablecoin RLUSD is set to transform cross-border payments by providing a cost-effective and seamless solution for remittances and international money transfers. Although he did not specify a launch date, Garlinghouse expressed great enthusiasm about the project, emphasizing its role in complementing the broader XRP ecosystem.

The announcement of Ripple stablecoin RLUSD underscores the company’s commitment to leveraging stablecoins’ increasing prominence in the digital currency world, where options like USDC and USDT are gaining widespread acceptance due to their inherent stability.

In conjunction with this announcement, Ripple has appointed Jack McDonald, CEO of its newly acquired Standard Custody, as Senior Vice President of Stablecoins.