Official announcements from Ripple or the exchanges involved

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

Oct 15, 2024, 12:23 PM

Ripple has announced the launch of its new USD-denominated stablecoin, RLUSD, which aims to compete with existing stablecoins like Tether and USDC. The company has minted 4.5 million RLUSD in the past 24 hours and revealed several exchange and platform partners, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Market makers B2C2 and Keyrock will provide liquidity support. Ripple is awaiting regulatory approval from the New York Department of Financial Services (NYDFS) before the stablecoin becomes globally available. Ripple president Monica Long stated that RLUSD is operationally ready. The announcement was made at the RippleSwell event, where an advisory board for RLUSD was also introduced.