What is RLUSD?
RLUSD is a stablecoin issued by Ripple, pegged to the value of the USD, and collateralized 1:1 by U.S. dollars and cash equivalents held in reserve. RLUSD is designed to provide a stable and secure way to transact on blockchain networks, combining the reliability of fiat currency with the efficiency of digital assets.
Who is Ripple?
Ripple is a leading blockchain technology company known for issuing XRP, one of the most widely used digital assets for payments. For over a decade, Ripple has been a pioneer in bridging traditional financial systems with blockchain technology, providing fast, secure, and cost-efficient solutions for cross-border payments. Ripple is recognized for its commitment to transparency and compliance, making it a trusted partner in the financial industry.
What makes RLUSD stand out?
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USD-Backed: RLUSD is backed 1:1 by U.S. dollars held in reserve at top-tier U.S. financial institutions, providing stability and security.
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Stable Value: The stablecoin is designed to maintain its peg to the U.S. dollar, offering a dependable store of value for users looking to transact without the volatility of other cryptocurrencies.
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Institutional-Grade Reliability: Built with the support of Ripple’s extensive network and experience in the financial sector, RLUSD provides businesses with a stablecoin that is designed for large-scale, secure operations. This makes it ideal for institutions that require a high level of trust and performance.
- Transparency: RLUSD undergoes monthly reserve attestations by a top-tier accounting firm, offering clear visibility into the assets backing the stablecoin. In addition to these attestations, regular audits are conducted to ensure users can trust the long-term backing and overall integrity of RLUSD.
Purpose
RLUSD is intended to offer a stable and efficient digital asset for a variety of use cases. From enabling quick and secure cross-border payments to supporting financial inclusion efforts, RLUSD aims to enhance the global financial ecosystem by providing users with a reliable, cost-effective solution.
Availability
RLUSD will initially be available on Ethereum in our platform, with plans to expand to other blockchain networks, such as the XRP Ledger, in the future. Ethereum’s established liquidity and infrastructure make it an ideal starting point for RLUSD’s integration into the market.