Ripple’s RLUSD Stablecoin Now Live on Major Crypto Exchanges

Ripple, a U.S.-based crypto company, has announced the launch of its highly anticipated stablecoin, RLUSD. The official rollout follows the company’s earlier announcement on December 16, stating that RLUSD would go live on December 17 in partnership with several leading crypto exchanges and platforms.

Key Launch Partners and Availability

Ripple CEO Brad Garlinghouse confirmed that RLUSD is now live on several major exchanges, including Uphold, MoonPay, CoinMENA, ArchaxEx, and Bitso. Additionally, Bullish, Mercado Bitcoin, Bitstamp, Zero Hash, and Independent Reserve are set to join the list of supporting exchanges. RLUSD is natively available on both Ethereum and Ripple’s XRP Ledger.

Regulatory Approval and Market Impact

The launch of RLUSD marks a significant milestone for Ripple, following a delay caused by regulatory hurdles. The company secured approval from the New York State Department of Financial Services earlier this month. This development positions Ripple as a potential challenger to the dominance of stablecoin giants Tether (USDT) and Circle (USDC).

Features and Use Cases

Like its competitors, RLUSD aims to deliver an enterprise-grade solution that combines the stability of fiat currency with the efficiency of blockchain technology. Users can leverage RLUSD for:

  • Global payments
  • Crypto on/off ramping
  • Participation in the tokenized real-world assets market

According to Jack McDonald, senior vice president of stablecoins at Ripple, RLUSD is just the beginning. The stablecoin will support:

  • Instant settlements and on/off ramps
  • Collateralization
  • Decentralized finance integrations

XRP Price Movement

Following the official launch of RLUSD, XRP was up 4%, with the cryptocurrency having rallied 27% in the past week and 141% in the past month.

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