Ripple Announces Exchange Partners for Stablecoin Launch, Including Bitstamp, Bitso, and Bullish

SUMMARY

Ripple has partnered with Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish for the launch of its Ripple USD (RLUSD) stablecoin, with B2C2 and Keyrock providing liquidity support.
The RLUSD Advisory Board now includes former FDIC Chair Sheila Bair, ex-JPMorgan executive David Puth, and Ripple Executive Chairman Chris Larsen.

Ripple has named Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish as its initial exchange partners for the upcoming Ripple USD (RLUSD) stablecoin launch. Furthermore, market makers B2C2 and Keyrock will support the liquidity of the new stablecoin upon its launch. Ripple CEO Brad Garlinghouse communicated confidence in RLUSD, expressing it is situated to become the “gold standard” for enterprise-grade stablecoins.

In a statement shared with The Block, Garlinghouse emphasized the solid utility and regulatory compliance of RLUSD. He specified that Ripple’s payment solutions will use RLUSD, XRP, and other digital resources to encourage faster, dependable, and cost-effective cross-border payments. Amid a recent fireside chat at Korea Blockchain Week, Garlinghouse highlighted the launch is anticipated in “weeks, not months,” but no particular date has been confirmed.

He also communicated disinterest in Ripple going public in the U.S., citing the Securities and Exchange Commission’s “pretty hostile” position toward crypto. RLUSD is outlined for enterprise use cases, centering on real-time worldwide payments. The stablecoin aims to give a steady bridge for on/off ramps between fiat and crypto.

It will also bolster the tokenization of real-world resources, such as commodities and securities. Each RLUSD token is claimed to be 100% supported by U.S. dollar deposits, U.S. government bonds, and cash equivalents. The stablecoin is set to launch on both the XRP Ledger and Ethereum blockchains, issued under a New York Trust Company Charter.

This will offer a compliant and trusted USD stablecoin for developers and users. Ripple moreover declared the formation of the RLUSD Advisory Board. This board includes previous FDIC Chair Sheila Bair, previous Centre Consortium CEO, and JPMorgan executive David Puth, and Ripple co-founder and Executive Chairman Chris Larsen.

Bair commented on her appointment, expressing that stablecoins play a key part in modernizing the financial framework and improving financial inclusion. Puth included that stablecoins bridge conventional finance and the crypto market, giving the stability required for exchanges while utilizing blockchain innovation to improve transparency and effectiveness.