Ripple's RLUSD Stablecoin Launches on Major Crypto Exchanges

The dollar-pegged stablecoin is now live on Ethereum and XRP Ledger, with initial listings on platforms like Uphold and MoonPay.

Ripple's RLUSD stablecoin, backed 1:1 by U.S. dollar reserves, debuted today on several global exchanges, including Uphold, MoonPay, and Archax.
The stablecoin is designed for cross-border payments and institutional use, aiming to attract traditional finance institutions to blockchain technology.
Early trading saw RLUSD trading above its $1 peg due to limited supply, with Ripple CTO David Schwartz assuring stabilization as liquidity increases.
The launch coincides with a surge in XRP, Ripple's native token, which has risen over 120% in the past month, driven by increased market demand and speculation.
Regulatory approval from the New York Department of Financial Services positions RLUSD as a compliant alternative in the growing stablecoin market dominated by Tether and Circle.