Ripple announces exchange and market maker partners for RLUSD stablecoin, awaiting regulatory approval

ChainCatcher news, according to CoinDesk, Ripple Labs announced its upcoming USD-pegged stablecoin RLUSD's exchange and market maker partners are awaiting regulatory approval from the New York Department of Financial Services (NYDFS). Ripple has partnered with exchanges such as Bitstamp, Bitso, and Bullish, while Keyrock and B2C2 will serve as market makers for RLUSD.

Ripple Labs President Monica Long stated that RLUSD will serve as an important bridge for payments and the tokenization of real assets, and will be backed by short-term U.S. Treasury bonds, dollar deposits, and cash equivalents. RLUSD is planned to be tested on the XRP Ledger and Ethereum network, with an expected launch in the near future.