RLUSD Makes Singapore Debut on Regulated Exchange Independent Reserve

RLUSD, Ripple’s USD-backed stablecoin, has officially launched in Singapore through the licensed crypto exchange Independent Reserve. This move establishes the platform as the first regulated exchange in Singapore to list RLUSD, offering faster and more cost-effective cross-border transactions.

Independent Reserve highlighted RLUSD’s 1:1 peg to the U.S. dollar and its integration with the XRP Ledger and Ethereum networks, emphasizing its suitability for various applications, including payments and decentralized finance (DeFi).

RLUSD: A Game-Changer in Stablecoin Adoption

Lasanka Perera, CEO of Independent Reserve Singapore, remarked that the stablecoin market has experienced significant growth, demonstrating its relevance in payment solutions and DeFi applications. He noted that RLUSD provides a robust option for investors and institutions, enabling efficient and secure movement of capital.

This development also reflects the strong collaboration between Ripple and Independent Reserve. The exchange now offers RLUSD trading pairs with both Singapore dollars (SGD) and U.S. dollars (USD), catering to a diverse user base.

A Regulated and Transparent Stablecoin

RLUSD operates under the stringent oversight of the New York Department of Financial Services (NYDFS), ensuring regulatory compliance and transparency. Ripple supports RLUSD with reserves comprising fiat USD and cash equivalents such as Treasury Bills, with monthly attestations conducted by independent auditors.

The launch in Singapore further strengthens Ripple’s foothold in the stablecoin market, underscoring the role of regulated digital assets in reshaping global financial systems.

Make money without lifting your fingers: Start using a world-class auto trading solution.

EightCap, your trusted Partner in CFDs, Cryptocurrencies and Stocks.

[xyz-ihs snippet="Markets"]