Ripple Labs Unveils RLUSD Stablecoin Partners, When Launch?

Ripple Labs has revealed the exchanges that RLUSD stablecoin will launch on at first as well as members of its advisory board

Payments firm Ripple Labs has named its partners for its proposed RLUSD stablecoin. The company said that RLUSD will go live on platforms like Bitstamp, Uphold, MoonPay, and Bitso among others.

Ripple and Its Partners Will See to RLUSD’s Successful Launch 

Ripple has also named former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, Vice Chairman of Partners Capital, and former CENTRE Consortium CEO David Puth to the RLUSD advisory board. 

The advisory firm also has its co-founder and Executive Chairman, Chris Larsen as a member. 

The launch of RLUSD is expected later this year, with specific details on the exact timeline to be announced soon. The company’s global reach will play a role in driving the success of RLUSD. RLUSD is expected to bolster Ripple’s position in the market by attracting users, from crypto to traditional finance firms.

As the stablecoin market continues to grow, RLUSD’s rollout might help it capture market share from key rivals.

Ripple Increases RLUSD Minting

The blockchain payment firm has continued to intensify efforts toward the launch of RLUSD. Notably, Ripple Labs continues to mint its RLUSD stablecoin, as part of its ongoing testing. The Ripple stablecoin tracker showed that millions of RLUSD  have been minted across the Ethereum blockchain and the XRP Ledger over the past few weeks.

Even with the increased minting activity, the company considers the rollout time undefined. Ripple has said that it is awaiting regulatory approval, among other things, before releasing the stablecoin to the market. 

In the meantime, Ripple continues to conduct tests with the minting complemented by burning and actual RLUSD transfer.

Meanwhile, the testing phase will ensure the stablecoin meets the highest security, efficiency, and reliability standards before a release. Amid RLUSD testing, there are discussions about the transaction fees connected with RLUSD on Ethereum and the XRP Ledger. The firm has not given details about this yet.

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