Ripple’s USD Stablecoin Launch On Uphold: Gains For XRP Community

RLUSD Launch On Uphold: New Rewards For XRP Community

Ripple’s RLUSD Stablecoin Launch: XRP Community Gains New Rewards

Ripple’s USD stablecoin debuts on Uphold while offering rewards as well as exclusive benefits. RLUSD is solidifying its role in digital payments, thereby boosting the value for XRP investors. 

RLUSD Launch on Uphold - Gains for the XRP Community

Uphold is a leading Web3 financial platform; it recently confirmed Ripple’s USD stablecoin, RLUSD’s full accessibility on its platform starting tomorrow, December 18. RLUSD will also be integrated into the Rewards Center Program of Uphold in January 2025 to let users earn incentives for them holding the stablecoin.

Highlights By Uphold’s CEO

CEO of Uphold, Simon McLoughlin, expressed his enthusiasm for Ripple’s innovation, stating how they’ve always been big supporters of the XRP community and how proud they are to be among the initial launch partners of Ripple’s first-ever stablecoin solution. He added that Ripple has brought much innovation to the industry, and that RLUSD will for sure help in the evolution of digital payments, enterprise finance and more.

RLUSD 

RLUSD is issued under the New York Trust Company Charter and it’s been approved by NYDFS. It is backed by 1:1 by USD reserves and cash equivalents, and transparency is maintained with monthly third-party audits. RLUSD features enterprise-grade security, has been designed for institutional and cross-border use, and has its smart contracts undergone independent audits.

Benefits For the XRP Community

Once RLUSD is added to the Uphold Rewards Center, the XRP community will get additional value when they hold Ripple’s USD in their Uphold wallets. This integration allows benefits including 5% rewards on RLUSD holdings, early access to new tokens and access to exclusive cryptocurrency insights as well. Rewards will be earned by completing tasks on the Uphold app like visiting the platform, asset deposition and trade execution. Users who have already unlocked the three levels are to receive a 24-hour early access period to RLUSD before it’s widely available

RLUSD Launch

The stablecoin is also to be launched on various other platforms like MoonPay, Archax and CoinMENA. Later, it may be launched on Bitso, Mercado Bitcoin, Bitstamp, Bullish, Zero Hash, Independent Reserve and many others in the coming weeks. 

The RLUSD advisory board is to be joined by several banking officials including Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery, former first vice president as well as Chief operating officer of the Federal Reserve Bank of Boston. It already comprises banking experts like Sheila Bair, David Puth and Chris Larsen.