Ripple Expands RLUSD Stablecoin Availability Through Partnerships With Uphold, Bitstamp, and Others

Ripple has partnered with several well-known platforms to make RLUSD available to a wider audience. These include Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.

CoinChapter.com reports that Ripple has partnered with several platforms to expand access to RLUSD, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. This move aims to enhance liquidity and availability of the stablecoin across different regions and platforms.

According to an announcement on Oct. 15, customers and partners have been requesting stablecoins like RLUSD for various use cases. Ripple plans to use RLUSD alongside XRP for cross-border payments, aiming to reduce costs and improve transaction speed for international transfers.

Furthermore, RLUSD operates under a New York Trust Company Charter, ensuring adherence to strict regulatory oversight and compliance with current financial regulations. This positions the stablecoin as a trusted option in the cryptocurrency market.

Ripple’s advisory board includes Sheila Bair, who emphasized the significance of stablecoins in the future of financial infrastructure. Bair believes that stablecoins will help modernize the system and support broader financial inclusion.

notably, Ripple tested RLUSD on the XRP Ledger (XRPL) and Ethereum mainnets starting Aug. 9. The stablecoin is fully backed, 1:1, by US dollar reserves or short-term assets, and Ripple ensures transparency by conducting third-party audits and releasing monthly reports on the reserves.

The above is the detailed content of Ripple Expands RLUSD Stablecoin Availability Through Partnerships With Uphold, Bitstamp, and Others. For more information, please follow other related articles on the PHP Chinese website!