Ripple Unveils New Stablecoin RLUSD at #XRPLApex 2024

Jun 12, 2024, 02:03 PM

Ripple has unveiled a new stablecoin named Ripple USD (RLUSD) at the XRP Ledger Community Summit during #XRPLApex 2024. The stablecoin, which is backed 1:1 by USD, aims to offer transparency and stability on both the XRP Ledger and Ethereum. Brad Garlinghouse, CEO of Ripple, introduced the stablecoin, emphasizing its reliability by referring to it as 'Real USD.' Emi Yoshikawa, Vice President for Strategic Initiatives at Ripple, also confirmed the ticker symbol $RLUSD. The stablecoin is expected to be launched later this year.