Ripple’s RLUSD Is Now Trading Globally. Here’s Where You Can buy

Ripple, the San Francisco-based cross-border payment firm, has announced the global trading of its stablecoin, RLUSD, following the New York Department of Financial Services (NYDFS) approval on December 10, 2024. This regulatory endorsement underscores RLUSD’s compliance with stringent financial standards.

RLUSD is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents, ensuring its stability and reliability. Ripple has committed to providing monthly attestations of the stablecoin’s reserves through independent third-party audits, enhancing transparency and trust.

Platform Availability and Future Expansion Plans

At launch, RLUSD is available on several platforms, including Uphold, Bitso, MoonPay, Archax, and CoinMENA. Ripple plans to expand access by adding more listings on platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash.

Potential Use Cases for RLUSD

Ripple has outlined multiple potential applications for RLUSD, focusing on areas that leverage its stability and liquidity. These use cases include:

Cross-border payments: RLUSD can facilitate faster and more efficient international transactions, building on Ripple’s established payment networks.

Corporate treasury management: Businesses can use the stablecoin to manage cash reserves and optimize liquidity.

DeFi and trading collateral: RLUSD can serve as collateral for margin trading and play a key role in decentralized finance (DeFi) applications.

Ripple’s cumulative payments volume has already reached $70 billion, underscoring its influence in global financial networks. Meanwhile, XRP, Ripple’s flagship token, maintains a market capitalization exceeding $152 billion, demonstrating the company’s substantial foothold in the digital asset industry.

Advisory Board Appointments

To support the launch and future growth of RLUSD, Ripple has expanded its advisory board with two prominent appointments: Raghuram Rajan, the former Governor of the Reserve Bank of India, and Kenneth Montgomery, former First Vice President and COO of the Federal Reserve Bank of Boston.

They join a distinguished group of industry leaders already serving on the advisory board, including Sheila Bair, former Chair of the FDIC. David Puth, Vice Chairman of Partners Capital and former CENTRE Consortium CEO, and Chris Larsen, Ripple Co-founder and Executive Chairman.

The advisory board’s expertise reflects Ripple’s focus on integrating financial stability, regulatory compliance, and global adoption into its RLUSD stablecoin initiative.

Ripple’s Strategic Vision

The launch of RLUSD signifies Ripple’s continued efforts to bridge traditional financial systems with blockchain technology. By securing NYDFS approval and collaborating with prominent industry advisors, Ripple positions RLUSD as a reliable, fully backed stablecoin capable of meeting the growing demand for transparent and compliant digital assets.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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