On Friday, Ripple began testing its stablecoin on the company’s own blockchain, XRP Ledger, and Ethereum. The crypto firm first announced its plans to launch a U.S. dollar-pegged cryptocurrency called Ripple USD (RLUSD) in April. The token will be backed by short-term U.S. Treasuries, dollar deposits and cash equivalents.
"Ripple USD is currently in its beta phase and is being rigorously tested by our enterprise partners," the company said in a blog post. "This phase is crucial for ensuring that the stablecoin meets the highest standards of security, efficiency, and reliability before it becomes widely available, and after receipt of regulatory approval."
