Ripple, a leading provider of digital asset infrastructure for financial institutions that leverages XRP, is ready to launch its own stablecoin — pending regulatory approval. RLUSD, which has been in development since April, will join the growing ranks of stablecoins backed by the U.S. dollar, once it is approved by the New York Department of Financial Services.
While it is unclear when they will receive DFS approval, Ripple president Monica Long announced their list of distribution partners at the Ripple Swell conference in Miami on Tuesday. The stablecoin will be available to customers and institutions on global exchanges and wallets including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Ripple is also partnering with market makers including B2C2 and Keyrock.
