The cryptocurrency market is poised for significant growth in 2025, which is expected to fuel demand for stablecoins. Ripple's got perfect timing and enters the market where Tether (USDT) and USD Coin (USDC) dominate with its RLUSD stablecoin. With approval from the New York Department of Financial Services, Ripple USD brings a level of regulatory clarity and trust that many competitors lack.
RLUSD stablecoin: Key takeaways
Ripple USD, ticker RLUSD, is a stablecoin issued by Ripple on Dec. 17, 2024, a week after completing approval by U.S. regulators.
- As a digital asset that maintains a fixed 1:1 value with the USD, it provides a stable way for users and businesses to hold and use dollar-denominated assets on supported networks;
- RLUSD is initially minted on XRP Ledger and Ethereum blockchains;
- Ripple USD can be used for payments, trading, remittances, and decentralized finance (DeFi) similar to other stablecoins.
With the launch of RLUSD, Ripple aims to capture a significant share of the stablecoin market leveraging its trusted reputation and global finance partnerships.
What is RLUSD stablecoin?
Ripple USD (RLUSD) is a 1:1 USD-pegged token launched in December 2024 on XRP Ledger and Ethereum blockchains.
It is a stablecoin, meaning the price of 1 RLUSD equals $1. This stability makes RLUSD reliable for financial transactions and holding funds.
Source: Ripple
RLUSD Ripple stablecoin made a strong entrance into the market with record trading volumes and first-buyer bids exceeding the fixed dollar valuation.
Main Ripple USD statistics (as reported by Ripple as of January 16, 2025):
| Circulating Supply | $90.8M |
| Reserve Funds | $96.9M |
| 24h Trading Volume | $168M |
What makes RLUSD unique?
The core characteristics of XRPL stablecoin RLUSD are the same as other major stablecoins like USDT and USDC, but it also has some unique aspects.
Here are some of its standout features:
- Accessible: RLUSD is the first stablecoin launched on XRPL, it’s also available on Ethereum and will likely expand to other blockchains.
- Centralized: Like Tether and USD Coin, Ripple USD is managed by a single authority, Ripple, which controls the issuance and the reserves that back the asset.
- Legally compliant: RLUSD is regulated by the New York Department of Financial Services (NYDFS), which is highly respected worldwide for its strict standards.
- Stable value: The stablecoin is backed by real-world, low-risk, and liquid assets, including USD dollar deposits, short-term U.S. treasuries, and cash equivalents. These reserves ensure it can always be redeemed for actual dollars.
- Transparent: A third-party accounting firm will audit the reserves; Ripple will publish monthly attestation reports to prove RLUSD is fully backed.
Essentially, its regulatory status makes it more trustworthy compared to other stablecoins like USDT, which has faced questions about its backing and transparency.
The stablecoin’s role in the Ripple ecosystem
Ripple is a top fintech company that focuses on the use of blockchain technology to solve global payment problems.
Ripple's XRP Ledger (XRPL) blockchain is purpose-built for payment efficiency, an area where traditional banking systems often fall short due to high fees and long processing times. Its native token, XRP, is a cryptocurrency used as a "bridge" currency for transferring value between different fiat currencies.
In 2020, the SEC sued Ripple, claiming XRP was an unregistered security. A judge later ruled XRP isn’t a security, and many expect the case to be resolved soon.
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Since 2012, Ripple has developed a range of financial products for institutions: custody solutions, tokenized assets, CBDC stablecoins, ODL, etc. Major clients include giants like Santander, American Express, and Bank of America.
Ripple’s RLUSD stablecoin launch aligns perfectly with its broader goal as a stable and reliable means of transferring value peer-to-peer (P2P), business-to-business (B2B), and business-to-consumer (B2C).
The Ripple USD (RLUSD) stablecoin use cases
Stable value makes Ripple USD stablecoin useful in many areas:
- Fiat-to-crypto gateway: Makes it easier for users, traders, and businesses to move between fiat currency and cryptocurrencies (on-ramping/off-ramping).
- Global money transfers: Fast and affordable international transactions for individual and corporate use.
- Everyday transactions: A reliable method for daily transactions, an alternative to cash or cards.
- RWA tokenization: Can be used for collateral backing of tokenized assets on XRPL and transactions involving them.
- DeFi integrations: Users can utilize RLUSD in XRPL and Ethereum dApps and DeFi platforms for trading, yield farming, staking, and as collateral for loans.
Chainlink partnership brings RLUSD utility to DeFi; Source: Chainlink
While Ripple (RLUSD) stablecoin NYDFS approval means regulated financial institutions are more likely to adopt it, holders and traders can also benefit significantly.
Where can I buy RLUSD stablecoin?
The stablecoin is already listed on major centralized cryptocurrency exchanges covering multiple regions:
- Bitstamp
- Bullish
- Independent Reserve
- Bitso
- Mercado Bitcoin
- Archax
- CoinMENA
These platforms offer trading pairs with fiat local currencies (USD, EUR, MXN, BRL, etc) and stablecoins (USDC, USDT)
For DEX users, RLUSD is available on:
- Curve (Ethereum),
- Sologenic (XRP Ledger).
Other verified partners:
- Market Makers and OTC platforms: B2C2, Keyrock, JST Digital;
- Payment and on-ramp providers: Uphold, MoonPay
Source: Ripple
Ripple is continuing to expand the availability of RUSD on various platforms, so users can expect to see more listings
How to buy RLUSD stablecoin securely
If you’re planning to buy and hold the Ripple US dollar, make sure you are dealing with the genuine RLUSD to reduce the likelihood of scams. Visit Ripple’s official documentation for reference.
XRP Ledger issuer account (mainnet):
rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De
Ethereum RLUSD contract (mainnet)
0xCfd748B9De538c9f5b1805e8db9e1d4671f7F2ec
Before purchasing, ensure that the exchange you choose is accessible from your location and complies with local regulations.
Conclusion
RLUSD is a regulated, transparent, and institutionally friendly stablecoin created to bring trust and compliance to blockchain-based transactions. It brings more liquidity to XRP Ledger and opens up the doors for various DeFi applications.
Ripple already has strong ties with regulated payment providers, financial institutions, banks, and fintechs. With these clients, it’s safe to say RLUSD will continue to get accepted and used. The positive sentiment around RLUSD is also fueled by the U.S. government’s shifts to more crypto-friendly policies.
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