Ripple, the leading provider of digital asset infrastructure for financial institutions, announced that Ripple USD (RLUSD) will be available on global exchanges starting December 17, 2024. RLUSD is an enterprise-grade, USD-denominated stablecoin created with trust, utility, and compliance at its core, backed by Ripple’s years of experience working with crypto and the existing financial system.
RLUSD will be initially available on Uphold, Bitso, MoonPay, Archax, and CoinMENA, with additional listings on platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, Zero Hash and others expected in the coming weeks. Each RLUSD token is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents—designed to ensure stability, reliability, and liquidity. To maintain the highest standards of transparency, Ripple will publish monthly third-party attestations of RLUSD’s reserve assets conducted by an independent auditing firm.
“Early on, Ripple deliberately chose to launch our stablecoin under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide,” said Brad Garlinghouse, Ripple’s CEO. “As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry.”
Key RLUSD partners include leading global exchanges, market makers, and payment providers, which will drive adoption and usage across the Americas, Asia-Pacific, UK, and Middle East regions. RLUSD is ideal for financial use cases and allows institutions to:
Early next year, Ripple Payments will use RLUSD to facilitate global payments for its enterprise customers. Ripple Payments has served $70 billion in payments volume and counting and has near-global coverage with 90+ payout markets, representing more than 90% of the daily FX market coverage.
RLUSD is available on both the XRP Ledger and Ethereum blockchains, offering flexibility and scalability for various financial use cases.
Raghuram Rajan, former Governor of the Reserve Bank of India, and Kenneth Montgomery, former First Vice President and Chief Operating Officer of the Federal Reserve Bank of Boston, will join the RLUSD advisory board to provide strategic guidance on regulatory, financial, and operational aspects to support RLUSD’s stability and growth.
Rajan and Montgomery join the ranks of the existing advisory board, including former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, Vice Chairman of Partners Capital and former CENTRE Consortium CEO David Puth, and Ripple co-founder and Executive Chairman Chris Larsen.
“Stablecoins could become the backbone of private payments by offering a secure, scalable, and efficient alternative to traditional systems. With its focus on compliance and reliability, RLUSD aims to establish new standards for trust and to play a pivotal role in shaping the future of payments. Joining the Advisory Board allows me to counsel RLUSD as it embarks on its journey in the rapidly evolving financial landscape,” said Raghuram Rajan, former Governor of the Reserve Bank of India.
“I am excited to join Ripple’s advisory board at such a pivotal moment for digital finance,” said Kenneth Montgomery, former First Vice President and Chief Operating Officer at the Federal Reserve Bank of Boston. “Stablecoins are rapidly emerging as a cornerstone of the payments landscape, delivering the speed, efficiency, and cost-effectiveness that traditional systems often struggle to achieve. I look forward to collaborating with the Ripple team to support the global growth and adoption of RLUSD, unlocking new opportunities for financial inclusion and modernizing the future of payments.”
RLUSD sets the standard for stablecoins, combining innovative functionality with the regulatory rigour and credibility of an NYDFS-issued New York limited-purpose trust company, further highlighting Ripple’s leadership in fostering trust and transparency in digital assets.
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