Ripple, a provider of enterprise blockchain and crypto solutions, clarified RLUSD, a stablecoin pegged to the US dollar, has not yet been launched.
There are various speculations about the release date. ripple said on social media that it is awaiting final approval from the New York Department of Financial Services (NYDFS).
First stablecoin announced It will be fully backed by a combination of U.S. dollar deposits, U.S. Treasury bills and similar cash equivalents early this year.
RLUSD will be integrated into both the XRP Ledger and Ethereum blockchains at launch, and plans to expand its use across additional blockchains and decentralized finance (DeFi) ecosystems in the future.
The company also plans to maintain transparency through a rigorous audit process by an independent accounting firm and publication of monthly certifications.
Ripple has taken significant steps to prepare for deployment. get Standard Custody & Trust Company, a New York-chartered trust company, has appointed Standard Custody CEO Jack McDonald to lead its stablecoin initiative.
Featured image credit: Edited from freepic
