Ripple, a global leader in digital asset infrastructure, has officially launched its U.S. dollar-backed stablecoin, Ripple USD (RLUSD). Designed to maintain a 1:1 peg with the U.S. dollar, RLUSD is backed by a mix of U.S. dollar deposits, government bonds, and cash equivalents. The stablecoin will be issued on both the Ethereum blockchain and the XRP Ledger, offering seamless integration across diverse ecosystems.
At launch, RLUSD will be available on select global exchanges, including Uphold, Bitso, MoonPay, Archax, and CoinMENA, with plans to expand to additional platforms in the coming weeks. CoinMENA, the only exchange from the Middle East and North Africa (MENA) region in the initial rollout, plays a pivotal role in introducing RLUSD to regional users.
CoinMENA: A Key Player in RLUSD’s Introduction
CoinMENA’s inclusion in the RLUSD launch underscores its commitment to bringing innovative digital assets to the MENA market. Talal Tabbaa, CEO of CoinMENA, expressed his excitement about the collaboration: “By listing RLUSD, CoinMENA is proud to offer our users access to a stablecoin issued by one of the most accomplished crypto companies in the world. With Ripple’s extensive experience working with both traditional finance and crypto companies, I’m confident that RLUSD will quickly rise to become one of the most popular stablecoins on the market.”
This partnership solidifies CoinMENA’s position as a bridge between global crypto innovation and the MENA region, enabling users to access Ripple’s groundbreaking stablecoin technology.
Ripple’s RLUSD in the Stablecoin Market
Ripple USD enters a highly competitive market dominated by stablecoin giants like Tether (USDT) and Circle’s USD Coin (USDC). Tether holds a market capitalization exceeding $140 billion, while USD Coin accounts for over $42 billion. These established players set a high standard for new entrants.
Ripple aims to differentiate Ripple USD through innovation. It is issued on two major blockchains, Ethereum and the XRP Ledger, which enhances scalability and flexibility. Ripple also ensures transparency by committing to monthly third-party attestations of its reserves. This transparency builds trust and positions Ripple USD as a strong alternative in the stablecoin market.
What RLUSD Brings to the Market?
The dual-chain issuance of RLUSD enables its integration into a wide array of use cases, including decentralized finance (DeFi), payments, and enterprise applications. Ripple’s established partnerships with traditional financial institutions and blockchain platforms further enhance RLUSD’s potential to gain significant traction in the global market.
By combining transparency, compliance, and flexibility, RLUSD is set to appeal to both institutional and retail users globally. CoinMENA’s role as the exclusive MENA exchange in the launch phase ensures that regional users are among the first to experience the benefits of Ripple’s innovative stablecoin.
