We are excited to announce that Bitso has just listed RLUSD, a USD-backed stablecoin issued by Ripple, designed to enhance institutional payment flows and cross-border transactions. RLUSD is now available on the Ethereum network, leveraging the well-established ERC-20 standard for secure and reliable transactions.
What is RLUSD?
RLUSD is a stablecoin pegged to the value of the U.S. dollar, offering a digital solution that combines the stability of traditional fiat with the efficiency of blockchain technology. RLUSD provides institutions with a versatile tool for handling large-scale payments, reducing costs, and enabling faster settlement times across borders.
By utilizing RLUSD, institutions can streamline their financial operations while taking advantage of the Ethereum network’s robust infrastructure.
Key Use Cases for RLUSD
RLUSD was created with institutional adoption in mind and can be applied in various high-impact scenarios:
- Cross-Border transactions: RLUSD allows institutions to perform international payments with near-instantaneous settlement times, reducing the friction and costs associated with traditional financial systems.
- Corporate treasury management: RLUSD can be used as a stable and reliable digital asset, enabling institutions to optimize liquidity without exposure to the volatility of other cryptocurrencies.
- Payment processing: Businesses can leverage RLUSD for payment flows that demand low fees and quick settlement times, improving overall operational efficiency.
Why support RLUSD on the Ethereum network?
At Bitso, we’ve chosen to initially support RLUSD on the Ethereum network, a proven platform known for its scalability, security, and widespread adoption in the global financial ecosystem. Ethereum’s mature infrastructure and established developer community make it an ideal environment to launch and manage a stablecoin at scale.
As the adoption of RLUSD grows, we will continue to evaluate expanding its availability to other blockchain networks, such as the XRP Ledger, to meet the evolving needs of our institutional clients.
Disclaimer:
The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry inherent risks, and their value can fluctuate. We strongly encourage all users to conduct thorough research (DYOR) and consider their individual risk tolerance before engaging in any financial transactions. Bitso does not guarantee any specific outcomes or returns related to the use or investment in RLUSD or other digital assets.
