Ripple’s RLUSD Stablecoin Now Live on Major Global Exchanges

Ripple has officially launched its highly anticipated stablecoin, RLUSD, on major cryptocurrency exchanges, the company announced on December 17.

The launch of Ripple USD (RLUSD) marks a significant milestone for Ripple as it expands its offerings within the cryptocurrency ecosystem. After months of anticipation and regulatory hurdles, RLUSD is now available on prominent platforms, including Uphold, MoonPay, CoinMENA, ArchaxEx, and Bitso. Additional exchanges like Bullish, Mercado Bitcoin, Bitstamp, Zero Hash, and Independent Reserve are expected to follow suit soon.

Ripple’s RLUSD: A New Contender in the Stablecoin Market

RLUSD is designed as a U.S. dollar-pegged stablecoin, with a native presence on both the Ethereum network and Ripple's XRP Ledger. This dual-chain deployment provides users with greater flexibility and access to a wide array of blockchain-powered use cases, from global payments to tokenized real-world assets.

The stablecoin’s launch follows approval from the New York State Department of Financial Services (NYDFS), clearing the way for Ripple to officially release RLUSD to the market. This regulatory approval has been a significant milestone after a delay due to regulatory challenges, positioning Ripple as a strong competitor in the stablecoin space against market leaders Tether (USDT) and Circle’s USDC.

Enterprise-Grade Solution with Blockchain Efficiency

Similar to its competitors, RLUSD aims to bridge the stability of fiat currency with the innovative power of blockchain technology. Ripple envisions the stablecoin as an enterprise-grade solution to meet the growing demand for efficient cross-border payments, crypto on/off ramps, and decentralized finance (DeFi) integrations.

Jack McDonald, Ripple’s Senior Vice President of Stablecoins, referred to RLUSD as “mile 1 of the marathon,” emphasizing that the stablecoin will evolve with new features, including collateralization and DeFi integrations, to support a wide range of use cases in the digital economy.

XRP Rallies in Wake of RLUSD Launch

Ripple’s native token, XRP, which has seen impressive growth in recent months, continued its upward momentum following the RLUSD launch. XRP gained 4% on the day of the stablecoin's release, marking a 27% increase over the past week and a 141% surge in the past month.

As Ripple’s stablecoin enters the market, it will be closely watched as a potential challenger to the established dominance of Tether and USDC. With RLUSD now live, Ripple is poised to further expand its influence in the blockchain and stablecoin sectors, particularly as the demand for digital currencies and blockchain solutions continues to grow globally.