Ripple Launches RLUSD Stablecoin on Exchanges
Ripple’s RLUSD Stablecoin Launch
- Ripple announces RLUSD stablecoin going live on exchanges on December 17, 2024.
- Regulatory approval received prior to the launch.
Ripple is set to launch its stablecoin, Ripple USD (RLUSD), on global exchanges starting December 17, 2024. The launch follows regulatory approval from the New York Department of Financial Services, allowing RLUSD to be available on XRP Ledger and Ethereum platforms. The launch was delayed pending regulatory clearance, which was obtained after partnering with various exchanges.
Exchange Partners and Support
In a recent announcement, Ripple disclosed that initial support for RLUSD will be provided by Uphold, Bitso, MoonPay, Archax, and CoinMENA. Additionally, Bitstamp, Bullish, Mercado Bitcoin, and Zero Hash are expected to list the stablecoin in the upcoming weeks.
An enterprise-grade stablecoin for everyone.
Ripple USD ($RLUSD) drops tomorrow on @UpholdInc, @MoonPay, @CoinMENA, @ArchaxEx and @Bitso, with @bullish, @mercadobitcoin, @ZeroHashX, @indepreserve, and @Bitstamp soon to follow. https://t.co/k3DrWO4PXA— Brad Garlinghouse (@bgarlinghouse) December 16, 2024
Global Adoption and Integration
Ripple aims to drive RLUSD adoption worldwide, with initial partners focusing on regions like the Americas, Asia-Pacific, the United Kingdom, and the Middle East. The stablecoin will be utilized in cross-border payments, remittances, treasury operations, and decentralized finance. Integration with Ripple Payments product is expected in early 2025 to facilitate global payments for enterprise customers.
XRP Price Movement
Following the news, XRP price experienced a slight increase, reaching highs of $2.56 with a 4% gain in 24 hours. XRP has shown significant growth in the past month, surging over 108% and more than 300% in the past year according to CoinGecko data.
