Overview
- Cross River announced on Oct. 15 that it has added RLUSD to its proprietary Core Operating System so fintech customers can access the stablecoin as an extra payment rail via a single API.
- Transactions on the XRP Ledger settle in about three to five seconds at a fraction of a cent, which Cross River says will let businesses move funds and settle treasury and cross-border flows around the clock.
- Standard Chartered began offering institutional custody for RLUSD in the DIFC on Oct. 12 and DriveWealth agreed on Oct. 14 to pilot RLUSD for brokerage settlement in Europe before a planned U.S. expansion.
- Ripple and Cross River reported RLUSD’s market capitalization has topped $2.5 billion with more than $1 billion issued on the XRP Ledger, and the token is issued under a New York trust with monthly reserve attestations.
- Commercial use remains phased and limited because Cross River services cover only certain U.S. states and broader rollout depends on further testing, custody arrangements, legal work and regulatory approvals.