Ripple launches RLUSD stablecoin on XRP Ledger and Ethereum with a 1:1 peg to the US dollar and regular audits 💵

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Blockchain company Ripple has introduced a new stablecoin, RLUSD, which will be available on the XRP Ledger and Ethereum networks, as well as platforms like Uphold, Bitstamp, Bitso, and others.

RLUSD is backed 1:1 by the US dollar and supported by dollar deposits, government bonds, and cash equivalents. Ripple will conduct monthly audits to ensure transparency.

The RLUSD advisory board includes Sheila Bair, former head of the FDIC, and Ripple co-founder Chris Larsen. Ripple is entering the competition against rivals such as Tether and Circle in the growing stablecoin market.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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