Ripple has announced that as of today (17 December), its Ripple Labs USD (RLUSD) stablecoin is officially available on global exchanges.
RLUSD will first be accessible on platforms like Uphold, Bitso, MoonPay, Archax and CoinMENA. In the coming weeks, it is expected to expand to additional platforms, including Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, Zero Hash and others.
Last week, Ripple announced it had received approval from New York state regulators, a move that CEO Brad Garlinghouse described as a strategic decision made early in the process.
Garlinghouse commented: “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.
“As the US 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.”
As part of the RLUSD launch, former Reserve Bank of India Governor Raghuram Rajan, and former First VP and COO of the Federal Reserve Bank of Boston Kenneth Montgomery, have joined the stablecoin’s Advisory Board.
In their roles, Rajan and Montgomery will offer strategic guidance on regulatory, financial and operational matters to ensure RLUSD’s stability and foster its growth.
“I am excited to join Ripple’s advisory board at such a pivotal moment for digital finance,” said Montgomery.
“Stablecoins are rapidly emerging as a cornerstone of the payments landscape, delivering the speed, efficiency, and cost-effectiveness that traditional systems often struggle to achieve.
“I look forward to collaborating with the Ripple team to support the global growth and adoption of RLUSD, unlocking new opportunities for financial inclusion and modernising the future of payments.”
The board of RLUSD’s oversight already includes Sheila Bair, former Chair of the Federal Deposit Insurance Corporation (FDIC); David Puth, Vice Chairman of Partners Capital and former CEO of the CENTRE Consortium; and Chris Larsen, Ripple Co-Founder and Executive Chairman.
Commenting on his new position and the future of stablecoins, Rajan said: “Stablecoins could become the backbone of private payments by offering a secure, scalable, and efficient alternative to traditional systems.
“With its focus on compliance and reliability, RLUSD aims to establish new standards for trust and to play a pivotal role in shaping the future of payments. Joining the Advisory Board provides me an opportunity to counsel RLUSD as it embarks on its journey in the rapidly evolving financial landscape.”
