Ripple Unveils RLUSD Stablecoin Exchange Partners, Including Uphold, Bitstamp, and Bitso

Ripple has officially unveiled the exchange partners supporting its new Ripple USD (RLUSD) stablecoin, according to an Oct. 15 statement.

Cryptocurrency company Ripple has announced the launch of its new stablecoin, Ripple USD (RLUSD), available globally for institutions and users on major crypto trading platforms, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.

According to an Oct. 15 statement, each RLUSD token will maintain a 1:1 parity with the US dollar and will be fully backed by dollar reserves, US government bonds, and cash equivalents.

The stablecoin will be available on both XRP Ledger (XRPL) and Ethereum. While the asset is still in private beta mode, CryptoQuant data shows that its supply has reached around $60 million, with 33.75 million RLUSD currently on the XRPL network and the balance on Ethereum.

Institutions and users can now integrate RLUSD into their preferred platforms and applications to enjoy the benefits of a stablecoin designed for enterprise use cases, such as cross-border payments, fiat on/off ramps, and the tokenization of real-world assets.

To ensure optimal liquidity for RLUSD, facilitating its broader adoption, leading market makers, such as B2C2 and Keyrock, will provide continuous support.

Commenting on the launch, Ripple CEO Brad Garlinghouse highlighted strong exchange partnerships, clear utility, and growing demand positioning RLUSD as the benchmark for enterprise-stablecoins.

“We're excited to see RLUSD go live on both XRPL and Ethereum. Strong exchange partnerships, clear utility, and growing demand will set RLUSD apart as the benchmark for enterprise stablecoins,” he said.

Emphasizing the role of stablecoins in various financial sectors, including payments and tokenization, Garlinghouse added that RLUSD will complement Ripple's existing suite of products, particularly in the area of cross-border payments.

“Our payment solutions will leverage RLUSD, XRP, and other digital assets to enable faster, more reliable, and cost-effective cross-border payments,” he noted.

In addition to the launch, Ripple has assembled an RLUSD Advisory Board to guide RLUSD's market entry and growth.

The board includes former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, former CENTRE Consortium CEO and JPMorgan executive David Puth, and Ripple co-founder Chris Larsen.

Commenting on the advisory board, Puth noted the crucial role of stablecoins in bridging traditional finance and the crypto market.

“Stablecoins are crucial in bridging traditional finance and the crypto market because they offer the stability required for institutional transactions while benefiting from blockchain technology's ability to enhance transparency and efficiency,” he said.

Bair added that as the digital economy continues to evolve, RLUSD is expected to play a significant role in expanding financial inclusion.

“We're excited about the potential for RLUSD to play a role in expanding financial inclusion by making it easier for people to participate in the digital economy,” she noted.

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