Ripple’s much-anticipated stablecoin, RLUSD, is now available on major crypto exchanges. This marks a significant milestone for the U.S.-based crypto company as it enters the competitive stablecoin market.

Key Details About the Launch

RLUSD, pegged to the U.S. dollar, officially launched on December 17. Ripple partnered with several leading crypto exchanges and platforms for the release. Ripple CEO Brad Garlinghouse announced on social media that the stablecoin is now live on exchanges such as:

• Uphold
• MoonPay
• CoinMENA
• ArchaxEx
• Bitso

Additional platforms, including Bullish, Mercado Bitcoin, Bitstamp, Zero Hash, and Independent Reserve, are expected to join soon.

Built for Efficiency and Stability

RLUSD operates natively on both the Ethereum blockchain and Ripple’s XRP Ledger. This dual-network compatibility offers users a reliable, efficient way to conduct transactions and engage in decentralized finance (DeFi) applications. The stablecoin’s features include:

• Instant settlements
• Global payment solutions
• On/off ramping capabilities
• Support for tokenized real-world assets
• Collateralization for DeFi applications

Jack McDonald, Ripple’s senior vice president of stablecoins, described the launch as “mile 1 of the marathon,” signaling long-term plans for RLUSD’s growth.

Overcoming Regulatory Hurdles

The launch follows regulatory approval from the New York State Department of Financial Services earlier this month. This milestone positions Ripple as a potential competitor to existing stablecoin leaders Tether (USDT) and Circle’s USDC.

Market Impact

Ripple’s native cryptocurrency, XRP, reacted positively to the news. XRP saw a 4% price increase following the RLUSD launch, continuing a strong upward trend. Over the past week, XRP has risen 27%, and it’s up 141% in the past month.

A Step Toward Blockchain Innovation

With RLUSD, Ripple aims to provide businesses and consumers with a secure, efficient alternative for digital payments. The company’s vision extends beyond stablecoins, focusing on integrating blockchain technology into the broader financial ecosystem.

The release of RLUSD is a promising development in Ripple’s journey and a sign of its ambitions to reshape the stablecoin landscape.