Ripple has announced the date for the much-anticipated launch of its RLUSD stablecoin. The crypto firm also provided key details on the exchanges that the stablecoin will be available upon launch.
Ripple To Launch RLUSD On December 17
In a press release, Ripple announced that the Ripple USD (RLUSD) will launch tomorrow, December 17. The stablecoin will be available on global exchanges such as Uphold, Bitso, MoonPay, Archax, and CoinMENA.
In the coming weeks, the stablecoin will be available on platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash. The crypto firm mentioned that each RLUSD token is fully backed by US dollar deposits, US government bonds, and cash equivalents to ensure stability, reliability, and liquidity.
For Transparency purposes, Ripple announced that it would publish monthly third-party attestations of RLUSD’s reserve assets carried out by an independent auditing firm. However, amid this launch announcement, Ripple CTO David Schwartz raised the possibility of the stablecoin’s not being pegged to the dollar due to supply shortage.
Commenting on the RLUSD 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 US 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.”
The post Breaking: Ripple To Launch RLUSD On December 17 appeared first on CoinGape.
