PANews reported on December 24 that Singapore's first licensed cryptocurrency exchange, Independent Reserve, announced the launch of Ripple's USD stablecoin Ripple USD (RLUSD). Since December 22, RLUSD has been available for trading on its order book and OTC trading platform.

It is reported that RLUSD is a stablecoin pegged to the US dollar at a 1:1 ratio. It is natively issued on the XRP Ledger and Ethereum networks and can be used in a variety of scenarios such as cross-border payments and decentralized finance (DeFi).

Earlier news said that Ripple will launch its stablecoin RLUSD on December 17, followed by monthly verification.