Ripple Announces RLUSD Stablecoin Launch on December 17 with Exchange Listings
Highlights:
- Ripple will debut its RLUSD stablecoin on December 17.
- The stablecoin will be available on exchanges such as Uphold, Bitso, MoonPay, Archax, and CoinMENA starting tomorrow.
- Additional listings on Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash will follow in the coming weeks.
Ripple has confirmed the highly anticipated launch date for its RLUSD stablecoin, along with key information about the exchanges that will support it.
Ripple Set to Launch RLUSD on December 17
Ripple announced via a press release that the Ripple USD (RLUSD) stablecoin will go live on December 17. Initially, RLUSD will be available on major exchanges, including Uphold, Bitso, MoonPay, Archax, and CoinMENA.
In the following weeks, RLUSD will also be listed on platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash. The stablecoin will be fully backed by U.S. dollar deposits, government bonds, and cash equivalents, ensuring stability, liquidity, and reliability.
To maintain transparency, Ripple will publish monthly attestations of RLUSD reserves by an independent auditing firm. However, Ripple CTO David Schwartz highlighted a potential challenge: supply shortages could temporarily disrupt the stablecoin’s 1:1 peg to the U.S. dollar.
Ripple CEO Brad Garlinghouse commented:
“Ripple made an early decision to launch RLUSD under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide. As the U.S. moves toward clearer regulations, we expect greater adoption of stablecoins like RLUSD, offering real utility and backed by years of industry trust and expertise.”
Global Ambitions for RLUSD
Ripple is targeting a global audience for RLUSD, partnering with leading exchanges, market makers, and payment providers to drive adoption across the Americas, Asia-Pacific, UK, and Middle East.
Starting next year, Ripple plans to use RLUSD to facilitate global payments for enterprise customers. The stablecoin will operate on both the XRP Ledger (XRPL) and Ethereum blockchain, expanding its utility and accessibility.
To strengthen its leadership, Ripple is adding Raghuram Rajan, former Governor of the Reserve Bank of India, and Kenneth Montgomery, former COO of the Federal Reserve Bank of Boston, to its RLUSD advisory board. These additions aim to provide strategic insights on regulatory, financial, and operational matters to ensure the stablecoin’s growth and stability.
Impact on XRP
The RLUSD launch is expected to boost XRP by injecting additional liquidity into its ecosystem. This could potentially trigger a bullish price rally for XRP as the stablecoin gains traction.
