Ripple Partners with Top Exchanges for RLUSD Stablecoin

Sentiment Status: Positive

RLUSD has been undergoing mainnet testing on both the XRP Ledger and Ethereum networks since August 9.

Ripple has officially named its exchange and market-making partners for RLUSD, the company’s new dollar-backed stablecoin. 

Strategic Partnerships with Top Crypto Platforms

Ripple will distribute RLUSD through several well-known exchanges and financial platforms, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Additionally, trading firms Keyrock and B2C2 will act as market makers to ensure liquidity and smooth trading of RLUSD.

The RLUSD stablecoin focus is to offer a secure and regulated digital asset backed by dollar reserves and short-term cash equivalents. Ripple’s CEO Brad Garlinghouse stated that RLUSD will serve as the "gold standard for enterprise-grade stablecoins", enabling efficient payments, real-world asset tokenization, and DeFi services.

Regulatory Compliance of RLUSD

RLUSD is being issued under a New York Trust Company Charter, as it meets high regulatory standards. Sheila Bair, former FDIC Chair and Ripple advisory board member, expressed:

“Stablecoins will play a key role in modernizing financial infrastructure and broadening financial inclusion.”

This strategy is expected to attract institutional investors and build trust among users.

Testing RLUSD on Multiple Blockchains

RLUSD has already gone through mainnet testing on the XRP Ledger and Ethereum networks since August 9. The stablecoin is overcollateralized, verifying each token is fully backed by cash reserves, with independent audits and monthly transparency reports to provide accountability.

The stablecoin's launch aligns with Ripple’s focus on real-world asset tokenization (RWA), with RLUSD serving as a stable bridge between fiat currencies and digital assets. 

Ripple RLUSD Poised to Compete in Stablecoin Market

Ripple’s entry into the $180 billion stablecoin market comes when competition among dollar-backed digital currencies is intensifying. With USDT, USDC, and DAI dominating the market, Ripple's scope is regulatory compliance, liquidity, and financial transparency.

Ripple’s extensive partner network and liquidity reserves position RLUSD to quickly achieve prominence among stablecoins. 

CEO Brad Garlinghouse hinted at the upcoming release, stating that RLUSD would launch “in weeks, not months”. RLUSD aims to secure a spot among the top stablecoins by market capitalization and challenge established players.