Ripple has disclosed its initial partners for the upcoming stablecoin RLUSD. The financial technology firm has formed alliances with several well-known platforms and exchanges, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Additionally, liquidity support for RLUSD will come from market makers like B2C2 and Keyrock at its launch.
How Will RLUSD Facilitate Cross-Border Payments?
According to Ripple CEO Brad Garlinghouse, these partnerships highlight the considerable demand for RLUSD and the company’s dedication to adhering to regulatory standards. He emphasized that the stablecoin is set to become a premier choice for institutional use, offering enhanced speed and cost-effectiveness for international transactions alongside XRP and other digital currencies.
Who Is on the RLUSD Advisory Board?
Ripple also announced the establishment of an Advisory Board to steer the RLUSD project. This board will consist of notable figures, including Sheila Bair, former chair of the FDIC, David Puth, ex-CEO of the CENTRE Consortium, and Chris Larsen, a co-founder of Ripple.
The key takeaways from Ripple’s announcement include:
- Strategic partnerships with prominent exchanges to boost liquidity.
- The goal of positioning RLUSD as a top-tier institutional stablecoin.
- The formation of an experienced Advisory Board to guide the project.
- Potential launch anticipated within weeks, with no public offering planned in the U.S. at this time.
Ripple’s initiative represents a significant step toward integrating stablecoins into the global financial system, potentially enhancing both efficiency and inclusivity in financial transactions.