Ripple Set to Launch RLUSD Stablecoin with Elite Advisors on Board

Ripple is set to release its new U.S. dollar stablecoin, RLUSD, on December 17, following regulatory approval. The stablecoin will first be available on platforms like Uphold, MoonPay, Archax, and CoinMENA, with plans to expand to others including Bitso, Bullish, and Bitstamp in the following weeks.

RLUSD is designed to maintain a steady price of $1 and is backed by U.S. dollar deposits, government bonds, and cash equivalents. Ripple’s CEO, Brad Garlinghouse, highlighted the token’s launch under New York’s strict regulatory framework, suggesting it sets a high standard globally.

He anticipates that clearer U.S. regulations will boost stablecoin adoption, emphasizing RLUSD’s potential for real-world applications.

Stablecoin to Enhance Digital and Traditional Financial Integration

Stablecoins like RLUSD are vital for linking digital assets with conventional finance. They serve as essential liquidity for trading and are becoming popular for blockchain transactions and international payments.

Major financial entities such as PayPal and Visa are also exploring the stablecoin arena, supported by increasing regulatory clarity worldwide.

Advisory Board Strengthened with Financial Experts

Ripple has bolstered its advisory board with the addition of former central bankers Raghuram Rajan and Kenneth Montgomery, who join other notable members like Sheila Bair and Ripple’s co-founder Chris Larsen.

Token Availability and Market Plans

Initially, RLUSD will be accessible in regions including the Americas, Asia-Pacific, the UK, and the Middle East. Jack McDonald, Senior Vice President of Stablecoin at Ripple, noted this during a CoinDesk interview. Plans to introduce the token in the EU are underway, as Ripple navigates the bloc’s licensing requirements.

Warning Against Early Volatility

David Schwartz, Ripple’s Chief Technology Officer, cautioned about possible early volatility in RLUSD’s price due to high demand and limited initial supply. He advised traders against speculative buying, emphasizing the stablecoin’s role as a financial tool rather than a quick profit opportunity.