RLUSD Launches on Bitstamp
Ripple USD (RLUSD), a stablecoin pegged to the U.S. dollar, has launched on the Bitstamp exchange. This move broadens Bitstamp’s cryptocurrency offerings and strengthens its position in the global market.
RLUSD operates on the Ethereum network, backed by Ripple’s decade of expertise in financial solutions. Bitstamp confirmed that RLUSD trading pairs include RLUSD/EUR, RLUSD/USD, RLUSD/USDT, RLUSD/BTC, RLUSD/ETH, and RLUSD/XRP.
Stability and Compliance at the Core
RLUSD offers a fully backed 1:1 ratio with U.S. dollars, supported by cash and equivalents. Issued under a New York Trust Charter, RLUSD prioritizes compliance and stability.
Ripple emphasized RLUSD’s utility for payments, tokenization, and decentralized finance (DeFi). Its dual support on the XRP Ledger and Ethereum network increases flexibility and usability.
Expanding Accessibility
In addition to Bitstamp, RLUSD is listed on multiple exchanges, including Uphold, Bitso, Moonpay, Archax, and Coinmena. Ripple plans to expand RLUSD availability to other platforms soon.
Ripple also integrates Chainlink’s onchain pricing standard to improve RLUSD’s reliability within DeFi applications. This innovation strengthens RLUSD’s role in bridging fiat, crypto, and stablecoins.
Impact on XRP and Beyond
RLUSD’s launch has positively influenced XRP prices. Analysts predict increased liquidity and utility for XRP due to RLUSD’s integration. Ripple executives, including CEO Brad Garlinghouse, foresee the introduction of XRP exchange-traded funds (ETFs) as another potential growth avenue.
Ripple’s latest stablecoin launch reflects its commitment to driving innovation and global adoption within the cryptocurrency space.