Ripple announces exchange partners for RLUSD.

Ripple is about to launch its own stablecoin, RLUSD, pending regulatory approval.

Ripple is about to launch its own stablecoin, named RLUSD, pending regulatory approval. This stablecoin, which has been in development since April, will be added to the growing list of US dollar-pegged stablecoins after approval from the New York Department of Financial Services.

Nobody knows when RLUSD will be approved, but Ripple president Monica Long has already announced a list of distribution partners during the Ripple Swell conference in Miami. The stablecoin will be available on global exchanges such as Uphold, Bitstamp, and others. Ripple is also partnering with market makers like B2C2 and Keyrock.

Long also announced an advisory board that will oversee the rollout of the stablecoin into the market and ensure regulatory compliance. Members include former FDIC chair Sheila Bair and Ripple co-founder Chris Larsen.

In an interview with Fortune, Long stressed that regulatory compliance is Ripple's top priority. She explained that it's crucial their products are reliable and follow the same rules as other financial products.

Unlike popular stablecoins USDT and USDC, RLUSD will be on the New York Department of Financial Services' Greenlist once approved. This means the stablecoin must meet strict rules on reserve management, convertibility, and transparency.

Despite USDC and USDT dominance in the stablecoin market, which has grown since 2014 to a market cap of $172 billion, Ripple CEO Brad Garlinghouse is optimistic RLUSD can become a major player, backed by early exchange partners and a focus on regulatory compliance.