US-based company Ripple announced the exchange and market maker partners for its upcoming dollar-pegged stablecoin RLUSD at the Ripple Swell 2024 conference in Florida today.
Ripple initially stated that it has partnered with Bitstamp, Bitso, Bullish, CoinMENA, Independent Reserve, MoonPay, and Uphold exchanges for the distribution of RLUSD.
Ripple also stated that crypto trading firms Keyrock and B2C2 will serve as market makers for RLUSD.
Speaking to Coindesk, Ripple Labs President Monica Long said that they are awaiting regulatory approval from the New York Department of Financial Services for RLUSD to go public.
“We are operationally ready for RLUSD, waiting for approval.
With RLUSD, we aim to leverage Ripple's success in payments and become a key bridge for the tokenization of real-world assets.
For RLUSD and stablecoins in general, we have definitely validated their utility with our payment service, and we also believe in this broader trend of asset tokenization in the real world. When we think beyond tokenizing money into different instruments and capital markets like securities and bonds, real estate and other assets, you need a stablecoin that is reliable and very trustworthy, and very robustly managed for entry and exit.”
As you may recall, Ripple CEO Brad Garlinghouse stated in his statement at Korea Blockchain Week last September that RLUSD could be launched in just weeks.
*This is not investment advice.