Ripple Introduces RLUSD: A Stablecoin Pegged to the US Dollar

Ripple Labs has introduced RLUSD, a stablecoin pegged to the US dollar that operates within the XRP Ledger ecosystem. This new digital asset maintains its value at one-to-one with the US dollar through full reserve backing and a mint-and-redeem mechanism accessible to approved institutions.

RLUSD was created by Ripple Labs in December 2024, shortly after receiving regulatory clearance from the New York State Department of Financial Services (NYDFS). The stablecoin is designed for enterprise and institutional use cases that require a reliable medium of exchange across borders without exposure to price volatility. RLUSD can be minted or redeemed through Ripple's web portal by approved clients.

Ripple launched RLUSD to provide its payments business with a stable, dollar-denominated settlement that it owns and controls. The company aims to offer institutions a dollar-denominated asset that minimizes legal and counterparty risks associated with less-regulated alternatives. RLUSD can be used for cross-border payments, institutional settlement, trading, and other digital asset use cases within Ripple's broader payments ecosystem.