Discover Ripple Stablecoin Name RLUSD and Its Exchange Partnerships

Ripple's stablecoin is called RLUSD, a US dollar-backed digital currency that aims to provide a stable store of value for users.

RLUSD is backed by a reserve of US dollars, which helps to maintain its value and stability in the market.

One of the key features of RLUSD is its exchange partnerships, which enable users to easily buy and sell the stablecoin on various exchanges.

RLUSD is listed on several exchanges, including Bittrex and Huobi, making it easily accessible to traders and investors.

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Ripple has a clear ambition for its stablecoin RLUSD, aiming for a market capitalization of $2,000 billion by 2028.

The company wants to establish itself sustainably in the market, where competition with players like Tether and Circle remains fierce. This projection reflects Ripple's desire to complement its existing asset, XRP, rather than replace it.

RLUSD is designed to be a complementary element to the XRP ecosystem, positioning the two assets as strategic pillars within Ripple's offering.

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Ripple is consolidating its position in the stablecoin sector thanks to the strategic approval of RLUSD by the NYDFS.

The regulatory validation opens up new perspectives for the company, which aims to meet institutional expectations and strengthen its presence in a rapidly changing market.

Ripple has named exchange partners and market makers for RLUSD, gearing up towards the public rollout of its stablecoin.

The token is "operationally ready", awaiting regulatory approval by the New York Department of Financial Services, Ripple Labs' president said.

Ripple has partnered with exchanges Bitstamp, Bitso, Bullish, CoinMENA, Independent Reserve, MoonPay and Uphold for distributing RLUSD at the start, while crypto trading firms Keyrock and B2C2 will serve as market makers for the token.

The value of RLUSD will be backed by short term U.S. Treasuries, dollar deposits and cash equivalents, and is currently in test mode on the XRP Ledger and Ethereum networks.

Here's a list of RLUSD's exchange partners:

Ripple will release independent monthly attestations about its reserves, which will be prepared by San Francisco-based accounting firm BPM.

Ripple has announced its exchange partners for its US dollar-denominated stablecoin, RLUSD. The stablecoin will be available on exchanges and platforms like Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.

Ripple partnered with these exchanges to distribute RLUSD at the start, and crypto trading firms Keyrock and B2C2 will serve as market makers for the token. This move is a significant step towards making RLUSD a widely accepted and traded stablecoin.

Here are the exchange partners for RLUSD:

The listing of RLUSD will soon be effective on several exchange platforms, according to Ripple's CEO, Brad Garlinghouse. This is a major development for the stablecoin and will help increase its adoption and usage.