Ripple has announced its first collaborative partners for the forthcoming stablecoin, RLUSD. Among the partners are prominent exchanges and platforms including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Additionally, market makers like B2C2 and Keyrock will provide liquidity support once the stablecoin is launched.
Will RLUSD Serve as a Reliable Financial Tool?
Ripple’s CEO, Brad Garlinghouse, expressed that the chosen exchange partners illustrate a strong market demand and a commitment to regulatory compliance. The goal is to position Ripple’s stablecoin as a leading choice for institutional use, emphasizing reliability and cost-effectiveness in cross-border transactions alongside XRP and other digital currencies.
What Expertise Shapes the Advisory Board?
To steer the RLUSD initiative, Ripple has established an Advisory Board featuring industry veterans, including Sheila Bair, the former FDIC chair, and David Puth, a former executive at JPMorgan. Bair highlighted the critical role stablecoins will play in modernizing financial systems and promoting greater financial inclusion.
Key insights from Ripple’s announcement include:
- RLUSD is tailored for corporate transactions, facilitating rapid international payments.
- The stablecoin aims to bridge fiat currencies and cryptocurrencies securely.
- It will assist in tokenizing tangible assets like commodities and securities.
As discussions continue regarding the launch timeline, Garlinghouse indicated that RLUSD could debut in the coming weeks but refrained from specifying an exact date. He also acknowledged the challenges posed by the SEC in the current regulatory landscape, affecting plans for a public offering in the U.S.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/ripple-names-partners-for-new-stablecoin-launch