30s Summary

Ripple has launched its Ripple USD (RLUSD) stablecoin worldwide, with the endorsement of the New York Department of Financial Services. The coin, fully backed by the US dollar, will feature on major crypto platforms such as Uphold, MoonPay, Archax and CoinMENA. Ripple also intends to integrate RLUSD into its digital payment system by 2025, and into decentralized finance protocols. The advisory board for RLUSD includes former Reserve Bank of India governor Raghuram Rajan and ex-vice president of the Federal Reserve Bank of Boston, Kenneth Montgomery. 

Full Article

Hey there, crypto enthusiasts! We’ve got some exciting news. Ripple, the company that created XRP, has announced that its Ripple USD (RLUSD) stablecoin will be available for trading worldwide starting tomorrow, Dec. 17.

For those of you who don’t know, RLUSD is a newly developed stablecoin that’s fully backed by the US dollar. And guess what? It’s been greenlit by the New York Department of Financial Services (NYDFS) to enter global financial and crypto markets.

Making things even cooler, Ripple has also confirmed some big names to advise on the RLUSD rollout, including a former bigwig from the Reserve Bank of India.

The RLUSD stablecoin will be available on many leading crypto platforms and exchanges, like Uphold, MoonPay, Archax and CoinMENA, from the get-go. In the following weeks, it’s also expected to pop up on platforms like Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, Zero Hash, and others.

Ripple is hoping to getting RLUSD buzzing around everywhere, from the Americas and Asia-Pacific to the UK and Middle East.

The RLUSD isn’t just a new stablecoin—it’s also going to work as a cross-border payment and treasury remittance tool. By early 2025, Ripple plans to integrate it into their digital payment system–Ripple Payments–to make global payments even easier. And just so you know, Ripple Payments has already processed a whopping $70 billion across 90 different global markets.

But wait, there’s more! Ripple also plans to integrate RLUSD with decentralized finance protocols and provide support for both getting into cryptos (on-ramping) and cashing out (off-ramping). It can also be used as collateral for trading tokenized real-world assets like commodities, securities, and treasuries.

Accompanying RLUSD’s global debut, Ripple has pulled in some big names for the advisory board. Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery, former vice president and COO of the Federal Reserve Bank of Boston, will join the board to help guide RLUSD’s future growth.

And according to Rajan, he believes that stablecoins like RLUSD could become the backbone of private payments. So, get ready to see plenty of RLUSD in your future crypto transactions!