- Ripple has announced the stablecoin RLUSD will go live on exchanges on December 17, 2024.
- The launch comes a few days after the company revealed it received regulatory approval.
Ripple’s stablecoin Ripple USD (RLUSD) is finally going live, with the crypto company announcing availability on global exchanges beginning December 17, 2024.
The stablecoin, available on XRP Ledger and Ethereum, goes live after Ripple announced it had received regulatory approval from the New York Department of Financial Services. Ripple initially delayed the unveiling pending the regulatory nod, with this coming after the company revealed its exchange partners.
In the latest announcement, Ripple highlighted that initial support for RLUSD will be on crypto exchange and platforms Uphold, Bitso, MoonPay, Archax, and CoinMENA. Bitstamp, Bullish, Mercado Bitcoin and Zero Hash will list the stablecoin in coming weeks.
Commenting on the upcoming official launch, Ripple CEO Brad Garlinghouse said:
“Early on, Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide. As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry.”
An enterprise-grade stablecoin for everyone.
Ripple USD ($RLUSD) drops tomorrow on @UpholdInc, @MoonPay, @CoinMENA, @ArchaxEx and @Bitso, with @bullish, @mercadobitcoin, @ZeroHashX, @indepreserve, and @Bitstamp soon to follow. https://t.co/k3DrWO4PXA— Brad Garlinghouse (@bgarlinghouse) December 16, 2024
Ripple targets RLUSD adoption across the globe, with the initial partners set to drive this across the Americas, Asia-Pacific, the United Kingdom and Middle East.
Usage will be in cross-border payments, remittances, treasury operations and in decentralized finance. Ripple plans to integrate the stablecoin in its Ripple Payments product in early 2025, with RLUSD powering global payments for Ripple’s enterprise customers.
XRP price rose slightly amid the news, trading to highs of $2.56 with a 24-hour gain of 4%. The cryptocurrency is one of the biggest movers in the past month. Per CoinGecko data, XRP has soared more than 108% in the past month and over 300% in the past year.
