Ripple Launches RLUSD Stablecoin, Mints 4.5 Million Tokens, Awaits NYDFS Approval

Oct 15, 2024, 12:30 PM

Ripple has announced the launch of its new USD-denominated stablecoin, RLUSD, which is designed for enterprise use cases and real-time global payments. The stablecoin is 'operationally ready' but is awaiting regulatory approval from the New York Department of Financial Services (NYDFS). Ripple has partnered with several exchanges and platforms, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish, for the distribution of RLUSD. Market makers B2C2 and Keyrock will provide liquidity support. Ripple's president, Monica Long, confirmed the firm is prepared for the launch pending regulatory approval. Ripple has minted 4.5 million RLUSD tokens. Notably, Bullish, an exchange backed by Peter Thiel, is among the partners.