Ripple Unveils RLUSD Stablecoin, Appoints Sheila Bair and David Puth to Advisory Board

At the Miami Ripple Swell 2024 conference, Ripple revealed new exchange partners and market makers for RLUSD, its impending dollar-pegged stablecoin.

Cryptocurrency firm Ripple has unveiled new exchange partners and market makers for its upcoming dollar-pegged stablecoin, RLUSD.

The stablecoin will be available on the XRP Ledger and Ethereum networks at launch. Afterward, it will expand to other networks based on demand.

Several exchanges will support RLUSD distribution, including Bitstamp, Bitso, Bullish, CoinMENA, MoonPay, Uphold, and Independent Reserve.

B2C2 and Keyrock will serve as market makers to foster liquidity creation and adoption across global markets.

These partnerships aim to make RLUSD widely accessible on trusted exchanges.

Initially, the stablecoin will be available on the XRP Ledger and Ethereum network to facilitate real-time transactions and conversion between fiat and digital currencies.

According to Ripple, RLUSD is designed for various use cases, including cross-border payments, crypto-to-fiat and vice versa on ramps, and tokenizing real-world assets.

With RLUSD, Ripple’s existing cross-border payment solutions, such as XRP, will be further optimized for speed and cost. This integration will provide liquidity and allow institutions to transact globally.

The stablecoin will serve as a bridge between traditional and digital finance, offering a secure gateway to trade in and out of crypto markets without concerns about price volatility.

Moreover, it aims to foster faster acceptance of digital money by providing an efficient on-ramp to the blockchain ecosystem.

In a statement, Ripple’s president said the stablecoin is “operationally ready” and awaiting regulatory approval from the New York Department of Financial Services (NYDFS).

“We are operationally ready,” said Monica Long, hinting at a possible rollout within the coming weeks.

As previously reported by CryptoSlate, former FDIC Chair Sheila Bair and former CENTRE Consortium CEO David Puth will join RLUSD’s advisory board.

The board will advise on regulatory compliance, market positioning, and stablecoin use cases.

“Stablecoins will play a key role in modernizing financial infrastructure,” said Bair. As the digital assets industry grows, responsible innovation will be paramount to their adoption, prioritizing both consumer protection and financial stability.”