NYDFS issues trust license for Ripple USD: RLUSD stablecoin launched on XRP Ledger and Ethereum
The New York State Department of Financial Services (NYDFS) included the fintech company Ripple Labs in the official register of trust companies and authorized the issuance of the Ripple USD (RLUSD) stablecoin. Ripple CEO Brad Garlinghouse wrote on the X social network (@bgarlinghouse) that the coin’s smart contracts have already been activated on the XRP Ledger and Ethereum networks.
According to the RippleX team in the official blog, the new asset is aimed at direct competition with USDT and USDC in the American legal field. For traders and XRP holders, this is a key driver: the arrival of stable dollar liquidity will revitalize the native market maker (AMM) pools on XRPL, and each new token transaction will continue to burn fees into the native XRP coin.
How is RLUSD secured and which exchanges are already opening trading?
In an official press release on the Ripple website, the company’s management emphasized the rules for storing reserves:
- 100% cash and treasury bills coverage: Collateral is formed exclusively from fiat US dollars in FDIC-protected bank accounts and short US government bonds. BPM LLP will publish independent assessment reports on a monthly basis.
- First day partners: Trading pairs with RLUSD are opened by Bitstamp, Uphold, Bitso, Independent Reserve exchanges and the MoonPay service.
- Institutional Custody:Issuance and safe custody for funds is provided by Standard Custody and BitGo.
How is the launch of RLUSD beneficial for ordinary-traders?
Traders get a regulated alternative to offshore stablecoins without the risk of sudden blocking by the US Treasury. On the decentralized exchange XRPL DEX, XRP/RLUSD pairs will allow swaps with near-zero slippage and instant withdrawal to fiat through the Ripple Payments infrastructure.
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