Ripple USD

Reserve

Gains

<ul>
 <li>Ripple RLUSD stablecoin is now available on Independent Reserve in Singapore.</li>
 <li>Users can trade RLUSD against SGD and USD on the platform.</li>
</ul>
Ripple’s RLUSD stablecoin has officially debuted on Singapore’s first licensed crypto exchange, Independent Reserve (IR). The stablecoin became available on December 22, 2024, for trading against the Singapore dollar (SGD) and the US dollar (USD). This launch highlights Singapore’s growing role as a hub for crypto innovation and regulation.
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 <blockquote class="twitter-tweet">
 Independent Reserve is the first <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> exchange in <a href="https://twitter.com/hashtag/Singapore?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Singapore</a> to list <a href="https://twitter.com/hashtag/stablecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#stablecoin</a> Ripple USD (RLUSD)! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f389.png" alt="🎉" style="height: 1em; max-height: 1em;"> IR <a href="https://twitter.com/hashtag/SG?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SG</a> customers can trade <a href="https://twitter.com/hashtag/RLUSD?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#RLUSD</a> in <a href="https://twitter.com/hashtag/SGD?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SGD</a> &amp; <a href="https://twitter.com/hashtag/USD?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#USD</a> on our order book and OTC desk. Learn more here: <a href="https://t.co/08z1Asdl3q" rel="noopener noreferrer nofollow">https://t.co/08z1Asdl3q</a> <a href="https://t.co/ZM1zHW6OJd" rel="noopener noreferrer nofollow">pic.twitter.com/ZM1zHW6OJd</a>— Independent Reserve (@indepreserve) <a href="https://twitter.com/indepreserve/status/1871382982054822236?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 24, 2024</a>
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Independent Reserve <a href="https://x.com/indepreserve/status/1871382982054822236?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1871382982054822236%7Ctwgr%5Ee7ae2281c7fd17ac640ce657ce52691ef25a8dab%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.tradingview.com%2Fnews%2Fu_today%3A79bccf217094b%3A0-ripple-stablecoin-rlusd-scores-major-milestone-in-singapore%2F" target="_blank" rel="noopener noreferrer nofollow">announced</a> that users can trade RLUSD on its order book and OTC desk. This marks the first listing of the Ripple stablecoin by a regulated exchange in Singapore. RLUSD offers seamless compatibility with the XRP Ledger and Ethereum networks, enabling its use in decentralized finance (DeFi) and cross-border payments.
Lasanka Perera, CEO of Independent Reserve <a href="https://thenewscrypto.com/singapore-gulf-bank-plans-50-million-for-stablecoin-payments/" target="_blank" rel="noopener noreferrer nofollow">Singapore</a>, emphasized the importance of this partnership. He noted that RLUSD enhances global liquidity by providing a secure and efficient solution for financial institutions and investors. Ripple’s decision to partner with IR reflects the strong mutual trust built between the two entities.
<h3 class="wp-block-heading" id="h-rlusd-stablecoin-gains-momentum">RLUSD Stablecoin Gains Momentum</h3>
RLUSD is pegged one-to-one with the US dollar and is fully backed by fiat reserves and short-term government securities. Ripple will publish monthly third-party audits to maintain transparency about the reserves. The <a href="https://thenewscrypto.com/fireblocks-surpasses-3-trillion-in-transfers-with-stablecoins-accounting-for-over-50/" target="_blank" rel="noopener noreferrer nofollow">stablecoin’s</a> dual-network support allows Ripple to tap into Ethereum’s vast DeFi ecosystem while leveraging the XRP Ledger’s speed and cost efficiency for international transactions.
Ripple launched RLUSD globally on December 16, 2024. Since then, it has gained traction across platforms like Uphold, MoonPay, CoinMENA, Archax, and Bitso. The Singapore listing represents a strategic step in Ripple’s expansion across the Asia-Pacific region, which has been pivotal to its business growth.
RLUSD’s launch has already impacted the market positively. Ripple’s native token, XRP, rose 2.94% to $2.30, signaling investor optimism. The increasing interest from institutional players and XRP whales suggests a promising future for RLUSD and Ripple’s ecosystem.
Highlighted Crypto News Today <a href="https://thenewscrypto.com/is-pengu-on-track-for-a-strong-finish-to-2024/" target="_blank" rel="noopener noreferrer nofollow">Is PENGU on Track for a Strong Finish to 2024?</a>

Independent Reserve Becomes First to List Ripple RLUSD in SG

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