Ripple Names Exchange Partners for Upcoming RLUSD Stablecoin Launch

Crypto payments company Ripple has revealed its preliminary exchange and market maker partners for the launch of its Ripple USD (RLUSD) dollar-pegged stablecoin.

Exchange partners are Bitstamp, Bitso, Bullish, CoinMENA, Independent Reserve, MoonPay and Uphold. In addition, B2C2 and its marketplace partner Keyrock will provide liquidity support for RLUSD.

Counseling appointments

“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,” Ripple CEO Brad Garlinghouse said during the announcement.

He added that his payment solutions will leverage RLUSD for faster and more reliable cross-border transactions.

The company also named former FDIC Chair Sheila Bair and former Center CEO David Puth to its stablecoin advisory board to guide the market launch of its product.

Bair and Puth believe that stablecoins will play a crucial role in modernizing the financial system. The former highlighted the importance of responsible innovation to ensure consumer protection and financial stability as the industry grows.

Additionally, by providing stability and efficiency through blockchain technology, Puth believes these assets are important in bridging the gap between traditional finance and the crypto market.

Cross-border payments and tokenization

The digital payment company is still awaiting final regulatory approval from the New York Department of Financial Services (NYDFS) before the public launch of RLUSD.

Monica Long, president of Ripple Labs, confirmed in an interview with CoinDesk that it is ready to launch as soon as it is granted. “From our side, we are operationally ready,” he said.

According to her, the new offering will build on Ripple’s established role in payments and act as a key bridge to real-world asset representation.

“For RLUSD and stablecoins in general, we’ve definitely validated their utility with payments,” Long explained. He added that they also believe in the broader trend of tokenizing real-world assets.

The announcement follows earlier plans this year to launch its product in the rapidly expanding $170 billion stablecoin market. Each RLUSD token is designed for business use cases and will be fully backed by US dollar deposits, government bonds and cash equivalents.

The offering is currently in a testing phase on both the XRP Ledger and Ethereum networks. Ripple plans to issue monthly certificates on RLUSD reserves. BPM, an accounting firm based in San Francisco, will conduct independent audits.

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