Ripple Reveals Exchange Partners for RLUSD Stablecoin Ahead of Launch
Ripple Labs has announced its initial exchange partners for the highly anticipated USD-pegged stablecoin, RLUSD. The announcement was made today at Ripple’s annual Swell 2024 conference, and it highlights the growing momentum behind Ripple’s latest project.
Ripple’s Exchange Partners for RLUSD
Ripple revealed that major exchanges like MoonPay, Bitso, Bitstamp, Uphold, Independent Reserve, Bullish, and CoinMENA will support RLUSD. These exchanges will offer the stablecoin to users and institutions as soon as it gains approval from the New York Department of Financial Services (NYDFS).
In a social media post, Ripple stated, “Upon regulatory approval, RLUSD will be globally available for institutions and users through our exchange partners.”
Strong Market Support and Liquidity
Besides the exchange partners, Ripple has teamed up with liquidity providers such as Keyrock and B2C2 to ensure RLUSD has strong market liquidity. This added support positions RLUSD as a potential game-changer in the growing stablecoin market.
RLUSD Aims to Set a New Standard
Ripple’s CEO, Brad Garlinghouse, expressed optimism about the stablecoin’s future, emphasizing that RLUSD is designed to be the “gold standard” for enterprise-grade stablecoins. He pointed out its regulatory compliance, high demand, and utility in cross-border payments as key strengths.
Ripple has also assembled an advisory board featuring financial heavyweights like Ripple Chairman Chris Larsen, former JPMorgan executive David Ruth, and former FDIC Chair Sheila Bair. This board will guide RLUSD as it enters the market.
Launch Date Still Unconfirmed
While RLUSD is still in private beta testing on the XRP Ledger and Ethereum, Garlinghouse hinted last month at Korea Blockchain Week that the mainnet launch is expected within weeks. This suggests the stablecoin could be released before the end of 2024.
As anticipation builds, Ripple has been actively minting millions of RLUSD tokens on Ethereum and XRPL, indicating that the final launch might be closer than expected.
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