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Cryptocurrency News Articles
Ripple Announces List of Distribution Partners for RLUSD Stablecoin at Swell Conference
Oct 15, 2024 at 08:02 pm
While it is unclear when they will receive DFS approval, Ripple president Monica Long announced their list of distribution partners
Ripple (XRP) unveiled their stablecoin, RLUSD, at the Ripple Swell conference in Miami on Tuesday. The stablecoin will be available to customers and institutions on global exchanges and wallets.
Here's a list of some of Ripple’s distribution partners:
* Global exchanges: Bitstamp, Bitso
* Crypto wallets: Uphold, MoonPay
* MENA region exchange: CoinMENA
* Australian exchange: Independent Reserve
* Digital asset exchange: Bullish
* Market makers: B2C2, Keyrock
In addition to these partners, Ripple is also working with several other exchanges and wallets to list RLUSD. The full list of distribution partners will be announced once DFS approval is received.
As previously reported by CryptoSlate, the stablecoin will be available on 뉴욕 금융 서비스부 (DFS) “Greenlist” once it is finally approved.
“New York DFS is a very highly regarded regulator in the U.S. and internationally, and they’ve issued the most detailed stablecoin guidance,” Ripple President Monica Long told Fortune in an interview.
“So what that means is, for example, they have specific rules around the composition of the reserves you hold, the time for redemption, transparency for attestation. And so, this is just seen as like the most robust stablecoin regulatory structure.”
The stablecoin industry has grown rapidly since 2014, reaching a market capitalization of $172 billion, but USDC and USDT 크립토 카지노 도메인 차단 dominate the space. Even PayPal, which launched its stablecoin in 2023, is struggling to make inroads.
Despite these challenges, Ripple CEO Brad Garlinghouse believes RLUSD can take on the two stablecoin giants.
“With our initial exchange partners, clear utility and demand for RLUSD, and a strong focus on regulatory compliance, Ripple’s stablecoin is poised to become the gold standard for enterprise-grade stablecoins,” Garlinghouse said in a statement.
“We see RLUSD as more of the on and off ramp from the analog world, or the traditional world, or fiat currency world, where you need some way to get dollars in and out of the digital asset world,” she added.
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