Ripple Labs has launched its native stablecoin RLUSD, designed to maintain a steady value of one U.S. dollar per token.
The stablecoin is fully backed by a reserve of low-risk, dollar-denominated assets held in segregated accounts and is intended for enterprise and institutional use cases that can leverage the stablecoin as a reliable medium of exchange across borders without exposure to price volatility.
RLUSD was created by Ripple Labs, the firm behind the XRP blockchain, and operates under a limited-purpose trust company charter granted by the New York State Department of Financial Services (NYDFS).