Global
Ripple USD
Ripple USD (RLUSD) is designed to maintain a constant value of one US dollar.
Issued on XRP Ledger and Ethereum blockchains, Ripple USD is fully backed by a segregated reserve of cash and cash equivalents and redeemable 1:1 for US dollars.
Background
Issued by Standard Custody & Trust Company, LLC, a wholly owned subsidiary of Ripple Labs, RLUSD is a USD denominated stablecoin. In June 2024, Ripple acquired Standard Custody & Trust Company, a limited purpose trust company chartered by the NYDFS. Standard Custody, which already had a license by the NYDFS to offer crypto custodial services.
Launch
RLUSD launched December 17, 2024 with NYDFS approval.
How does it work?
RLUSD is purpose-built for cross-border payments and delivers reliable access to digital dollars. RLUSD was built to be “complementary and additive” to XRP with a focus on institutions and compliance.
Sources and resources
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