Ripple has officially introduced its upcoming stablecoin trading symbol, RLUSD, during the XRP Ledger Apex summit. CEO Brad Garlinghouse and CTO David Schwartz were present at the session where Garlinghouse humorously referred to RLUSD as the “Real USD” while revealing its name. The inspiration for the term “RLUSD” came from “Ripple USD.”
Following this announcement, Ripple formally introduced the RLUSD term on its official website and social media channels. This unveiling coincided with the company’s trademark application for RLUSD with the U.S. legal database registry, Justia.
Although the community had speculated about RLUSD being the chosen ticker for Ripple’s stablecoin, the company neither confirmed nor denied these rumors until now. Despite some critics hoping for names like USDX or USDR, Ripple’s hands were tied due to these names already being used by other entities in the stablecoin market.
The now-official Ripple USD (RLUSD) is set to launch on the XRP Ledger and Ethereum before the end of 2024. This 1:1 USD-backed stablecoin aims to provide transparency and stability to the market in line with Ripple’s efforts to tap into the rapidly growing stablecoin sector, projected to reach a valuation close to $3 trillion in the next four years.
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