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Ripple Labs Inc. has made another big push toward the launch of its RLUSD stablecoin. In a recent announcement, the blockchain payments firm revealed the names of key partners spanning exchanges and experts in the field.
Ripple Labs RLUSD partners list
According to the firm, RLUSD will be available for users on global trading platforms like Uphold, Bitstamp, Bitso and Bullish. Most of these exchanges, especially Uphold, are long-term partners of the firm, making the RLUSD support a natural transition.
Alex DovbnyaBeyond the exchange partners, Ripple Labs also announced its inclusion in the RLUSD Advisory Board. Among the advisors it unveiled are former FDIC Chair Sheila Bair and Ripple Chairman Chris Larsen. The payments firm is making this move to put RLUSD on the right footing.
The firm is still embroiled in a long legal battle against the U.S. Securities and Exchange Commission (SEC). With a judgment appeal and a cross-appeal from both firms, the case, bordering on XRP’s securities status, might drag on for months or years.
Ripple said it is awaiting regulatory approval for RLUSD, a timeline for which is currently unknown. Already, Ripple Labs is putting the right pegs in the right hole by building out the stablecoin’s use cases.
How ready is RLUSD?
Ripple perceived the attractiveness of the broader stablecoin market, which Tether and Circle currently dominate. Since unveiling the stablecoin, it has embarked on a series of tests in its beta phase, which features minting and burning the token.
Tomiwabold OlajideRecently, Ripple Labs took testing to a new level by transferring the RLUSD stablecoin to anonymous wallets. The firm has minted and burned millions of new assets on both the XRP Ledger and Ethereum blockchains.
However, the firm has confirmed that it plans to list RLUSD on the Ethereum blockchain this year and launch on XRPL next year.
Alex Dovbnya
Vladislav Sopov
Dan Burgin