Ripple’s RLUSD Stablecoin to Commence Trading Today

Digital payment network Ripple plans to launch its long-awaited RLUSD stablecoin today after months of anticipation.

Ripple CEO Brad Garlinghouse posted on X that RLUSD will launch on Dec. 17. Following the announcement, Ripple’s native cryptocurrency, XRP, surged 13% in the past 24 hours and is currently trading at $2.62, according to CoinGecko data. This latest rally brings XRP’s year-to-date (YTD) gains to 322%.

RLUSD, Ripple’s first foray into the U.S. regulated market, is one of the first stablecoins to achieve formal approval under U.S. financial guidelines. Analysts suggest this step not only bolsters Ripple's blockchain infrastructure but also signals a shift toward digital assets being integrated into mainstream finance.

“Early on, Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide," Garlinghouse said in a statement. "As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry."

Stablecoins are digital assets designed to hold a steady value by being anchored to a stable reference, like fiat currencies or commodities. RLUSD is pegged to the U.S. dollar and backed by dollar reserves, short-term U.S. government bonds, and cash equivalents.

“These are key characteristics of any payment stablecoins – fully backed by a currency, redeemable and custodied by a regulated entity. We’re excited for the launch of RLUSD complementing XRP in a rapid refashioning of global payment infrastructure," said George Georgiades Esq., general counsel at Borderless.xyz.

RLUSD will operate on the Ethereum network and Ripple's XRP Ledger. Garlinghouse noted that it will also be listed on several exchanges, including Uphold, MoonPay, CoinMENA, Bitso, and ArchaxEX, with others to follow.

RLUSD hopes to enhance utility by enabling instant settlement of cross-border payments, providing liquidity for remittance and treasury operations, and seamlessly integrating with decentralized finance (DeFi) protocols, according to a Ripple blogpost.

RLUSD’s launch comes nearly a week after the NYDFS approved the stablecoin following months of review.

Prior to being approved by the NYDFS, RLUSD was in beta testing on Ripple’s decentralized blockchain platform, the XRP Ledger (XRPL) and the Ethereum mainnet since August.