Ripple's new payment stable-coin will be available for trading on Tuesday

Ripple's new payment stablecoin, RLUSD, is set to launch for trading on Tuesday, marking a significant development in the cryptocurrency landscape. Following approval from the New York State Department of Financial Services (NYDFS), RLUSD will initially be available on select global exchanges such as MoonPay, Uphold, CoinMENA, Bitso, and ArchaxEx. This stablecoin is pegged to the US dollar and aims to enhance cross-border payments by providing a reliable digital currency option for users.

The U.S. dollar-backed stablecoin, called ripple USD, or RLUSD, will be issued on the ethereum blockchain and XRP ledger and first available on some global exchanges, with plans to expand to others in the coming weeks. It will not initially be available on Coinbase or Robinhood.

“Part of the impetus for us wanting to launch a stablecoin is the growth we’ve seen specifically in cross-border payments,” Jack McDonald, Ripple’s senior vice president of stablecoins, told CNBC. “As we’ve been using stablecoins more and more in our flows, that really piqued our interest that we should have our own native stablecoin that can be more cost effective and more operationally efficient to use.”

Technical indicators do not show any weakness yet since the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are increasing, and neither has generated any bearish divergence.

However, the MACD has reached a new all-time high, and the RSI is very close to doing so. These overbought levels could indicate that the upward movement will end soon.

Ripple is the leading provider of digital asset infrastructure for financial institutions—delivering simple, compliant, reliable software that unlocks efficiencies, reduces friction, and enhances innovation in global finance. Ripple’s solutions leverage the XRP Ledger and its native digital asset, XRP, which was purpose-built to enable fast, low-cost, highly scalable transactions across developer and financial use cases. With a proven track record working with regulators and policymakers around the world, Ripple’s payments, custody and stablecoin solutions are pioneering the digital asset economy—building credibility and trust in enterprise blockchain. Together with customers, partners and the developer community, we are transforming the way the world tokenizes, stores, exchanges, and moves value.

The RLUSD stablecoin operates on both the Ethereum blockchain and the XRP Ledger. Its backing consists of US dollar deposits and short-term Treasury bonds, ensuring a stable 1:1 peg with the USD. This initiative not only seeks to facilitate smoother transactions but also aims to bolster Ripple’s position within an increasingly competitive market. However, the uncertain regulatory status regarding its classification raises concerns about its future viability .

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Sarah H

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