Ripple CEO Brad Garlinghouse has hinted at the highly anticipated launch of the company’s stablecoin, Ripple USD (RLUSD). In a recent statement, Garlinghouse expressed confidence that RLUSD will set the benchmark as the “gold standard” for enterprise-grade stablecoins based on trust, liquidity and regulatory compliance.
RLUSD is designed to combine fiat stability with blockchain efficiency. It supports real-time global payments, smooth on-ramps between crypto and fiat, and tokenization of real-world assets, improving transaction reliability and cost-effectiveness.
Built on trust and compliance
Garling House emphasized that RLUSD has been in development for almost a year and is supported by trusted exchange partners, market makers and an advisory board. The stablecoin is backed by US government bonds, dollar deposits and cash equivalents to ensure stability and reliability. In addition, Ripple plans to release monthly reports on RLUSD’s reserves, audited by accounting firm BPM, to maintain transparency.
Operational readiness and testing
Monica Long, another key figure at Ripple, confirmed that the company is operationally ready for the launch. There have been significant fund transfers to RLUSD in recent weeks as it undergoes testing on both the XRP Ledger and Ethereum networks, indicating strong preparation for its debut.
MoonPay CEO Ivan Soto-Wright also sees RLUSD as key to future financial systems, while B2C2 US CEO Cactus Raazi praises the company for improving digital asset marketplaces. Bitso and Bullish also highlight RLUSD’s role in cross-border payments and institutional trading.
Pending regulatory approval
While RLUSD is ready for the market, the stablecoin is still awaiting approval from the New York Department of Financial Services (NYDFS). The public launch is expected to take place before the end of the year, with Garlinghouse optimistically projecting that it could take just “weeks, not months”.
Ripple’s RLUSD stablecoin is positioned to make a significant impact in the crypto industry. With its focus on liquidity, trust and compliance, and the backing of strong financial reserves, RLUSD is expected to set the bar high for stablecoins. With final approval from NYDFS in sight, the crypto community is eagerly awaiting its launch. Additionally, Ripple’s
What do you think? Will Ripple attract a larger share of the stablecoin market and prove to be a dominant player in the space? Stay tuned for further updates
