Ripple is on the verge of launching its U.S. dollar-pegged stablecoin, Ripple USD (RLUSD), marking a significant development in the evolving landscape of digital finance. With expectations pointing toward a Dec. 4 launch—pending approval from the New York Department of Financial Services—the crypto community is closely watching this move. As one of the most influential players in blockchain-based payments, Ripple’s entry into the stablecoin arena could reshape institutional adoption and cross-border transaction dynamics.
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What Is RLUSD?
Ripple USD (RLUSD) is a 1:1 U.S. dollar-backed stablecoin fully collateralized by U.S. dollar deposits, short-term U.S. government Treasurys, and other cash equivalents. Announced in June 2024, RLUSD aims to deliver a compliant, transparent, and institutionally focused digital dollar solution built for scalability across multiple blockchains.
Although the official launch has not yet occurred, preview listings for RLUSD have already surfaced on leading cryptocurrency data platforms such as CoinGecko and CoinMarketCap—signaling growing market anticipation. Ripple has issued strong warnings against any tokens claiming to represent RLUSD prior to an official announcement, emphasizing that only verified releases should be considered legitimate.
Initial Blockchain Support: XRPL and Ethereum
RLUSD will initially debut on two major networks: Ripple’s native XRP Ledger (XRPL) and the Ethereum mainnet. Since early August 2024, the stablecoin has been undergoing beta testing on both platforms, allowing developers and partners to evaluate performance, integration capabilities, and interoperability.
This dual-chain rollout underscores Ripple’s strategy to maximize reach while maintaining efficiency. The XRP Ledger offers fast settlement times and low transaction costs—ideal for payment use cases—while Ethereum provides access to a mature DeFi ecosystem. Over time, Ripple plans to expand RLUSD to additional blockchains and decentralized finance (DeFi) protocols, enhancing its utility across the broader crypto economy.
How RLUSD Complements XRP
One of the most discussed aspects of RLUSD’s introduction is its relationship with XRP, Ripple’s native cryptocurrency. According to company leadership, RLUSD and XRP are designed to work together—not compete.
Monica Long, President of Ripple, stated at launch that RLUSD was built to be “complementary and additive” to XRP. The two assets will play distinct but synergistic roles within Ripple’s cross-border payments infrastructure. While XRP serves as a liquidity tool to bridge currencies and reduce reliance on pre-funded accounts, RLUSD will function as a stable settlement instrument denominated in U.S. dollars.
This pairing can enhance liquidity for RLUSD through XRP’s widespread exchange availability. Conversely, integrating RLUSD with XRP trading pairs may help stabilize the stablecoin’s price during periods of high volatility, reducing the risk of depegging—a critical concern in the stablecoin space.
In recent weeks, even ahead of RLUSD’s official release, XRP has seen renewed momentum, reclaiming its position as the third-largest cryptocurrency by market capitalization in early December 2025.
Target Audience: Institutions First
Unlike many consumer-focused stablecoins, RLUSD is primarily designed for institutional users. Brad Garlinghouse, CEO of Ripple Labs, emphasized this strategic direction during a September 2024 conversation with Token Relations co-founder Jacquelyn Melinek.
“We think there’s an opportunity for another player in the stablecoin market to exist that focuses on institutions, focuses on compliance,” Garlinghouse said.
He pointed to past instability in existing stablecoins—specifically referencing USDC’s temporary depegging event approximately 18 months prior—as evidence of the need for a more resilient, trustworthy alternative. Given Ripple’s long-standing relationships with financial institutions and regulatory bodies, the company believes it is well-positioned to fill this gap.
Garlinghouse also revealed that Ripple has already integrated stablecoins into its payment flows, having minted up to 20% of Circle’s USD Coin (USDC) in certain corridors. This operational experience informs RLUSD’s design, ensuring it meets real-world demands for speed, compliance, and auditability.
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Early Access and Wallet Integration
While Ripple has not officially issued RLUSD, early adopters are already preparing for its arrival. On Dec. 4, some users reported being able to add RLUSD to Xaman, a self-custodial wallet built for the XRP Ledger.
Robert Kiuru, COO of Xaman, clarified that users can set up “Trustlines” for RLUSD—an XRPL feature that allows wallets to recognize and hold non-XRP assets. However, he cautioned that setting up a Trustline does not confirm issuance or availability.
“Trustlines are straightforward to set up—they can theoretically be created for any asset, but that doesn’t provide confirmation or context about the issuance or availability of RLUSD itself,” Kiuru explained.
This functionality enables users and institutions to prepare their infrastructure ahead of launch but does not imply token distribution at this stage.
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Frequently Asked Questions (FAQ)
Q: When will RLUSD officially launch?
A: The expected launch date is December 4, 2025, pending regulatory approval from the New York Department of Financial Services. No official confirmation has been made yet.
Q: Is RLUSD backed 1:1 by U.S. dollars?
A: Yes. RLUSD is fully backed by U.S. dollar deposits, short-term U.S. Treasury securities, and other cash equivalents, ensuring a 1:1 peg to the U.S. dollar.
Q: Can I buy RLUSD now?
A: Not yet. Ripple has not issued RLUSD tokens. Any claims of selling or trading RLUSD before an official announcement are likely scams.
Q: How is RLUSD different from USDC or USDT?
A: While similar in function, RLUSD is specifically tailored for institutional use with an emphasis on compliance and integration with Ripple’s global payment network. Its close relationship with XRP also sets it apart in cross-border liquidity solutions.
Q: Will RLUSD be available on other blockchains besides XRPL and Ethereum?
A: Yes. Ripple plans to expand RLUSD to additional blockchains and DeFi protocols over time to increase accessibility and interoperability.
Q: Does owning XRP give me access to RLUSD?
A: No. XRP and RLUSD are separate assets. However, they are designed to work together within Ripple’s ecosystem for enhanced payment efficiency.