At the Ripple Swell 2024 conference held today in Florida, the U.S.-based company Ripple unveiled its exchange and market-making partners for its upcoming dollar-pegged stablecoin, RLUSD.
Ripple’s Partnership for RLUSD Distribution
Ripple announced that it has partnered with Bitstamp, Bitso, Bullish, CoinMENA, Independent Reserve, MoonPay, and Uphold for the initial distribution of RLUSD. Additionally, crypto trading firms Keyrock and B2C2 will serve as market makers for RLUSD.
Speaking with Coindesk, Ripple Labs President Monica Long stated that Ripple is awaiting regulatory approval from the New York Department of Financial Services to make RLUSD publicly available.
“We are operationally ready for RLUSD and just awaiting approval. With RLUSD, we aim to leverage Ripple’s success in payments and be a major bridge for tokenizing real-world assets.”
Long further emphasized the importance of stablecoins in the future of finance:
“We have verified the benefits of RLUSD and stablecoins through our payment services. Beyond tokenizing capital markets like securities, bonds, and real estate, you need a stablecoin that is reliable, trusted, and well-managed for entry and exit points.”
RLUSD Launch Imminent
Ripple CEO Brad Garlinghouse had previously hinted during Korea Blockchain Week in September that RLUSD could be launched within weeks. As regulatory approval approaches, Ripple’s partnership with these key exchanges signals significant progress in the rollout of RLUSD.
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