Ripple CEO unveils name of upcoming stablecoin RLUSD News โธ Ripple โธ Stablecoins
Ripple CEO unveils name of upcoming stablecoin RLUSD
Ripple has also developed an EVM sidechain to revolutionize DeFi.
1 min read
Updated: Jun. 12, 2024 at 1:25 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Ripple CEO Brad Garlinghouse has announced the name of the company’s upcoming stablecoin at the XRP Ledger Community Summit (XRPL Apex) in Amsterdam.
During a panel discussion, Garlinghouse stated:
“The name of the Ripple stablecoin [is] RLUSD; I like to call it Real USD or Ripple USD.”
While Garlinghouse did not disclose the launch date, he expressed enthusiasm about the project, noting that it complements the broader XRP ecosystem. The RLUSD will be a dollar-pegged stablecoin available on the XRP Ledger and Ethereum.
This announcement follows Ripple’s recent appointment of Jack McDonald, CEO of its newly acquired Standard Custody, as Senior Vice President of Stablecoins.
XRPL EVM sidechain
RippleX, Ripple’s development arm, has announced the development of the XRPL EVM Sidechain. This would bring Ethereum Virtual Machine (EVM) compatibility to the XRP Ledger (XRPL).
This sidechain aims to open new opportunities for developers on the XRP Ledger, particularly in DeFi and real-world asset tokenization, driving innovation and expanding the network’s utility and reach.
The XRPL EVM sidechain will connect to the XRPL mainnet via a bridge, using wrapped XRP (eXRP) as the native asset and gas token. The bridge will enable seamless asset transfers between XRPL and the EVM sidechain, enhancing interoperability and transaction efficiency.
The Axelar bridge will be the exclusive bridge for sourcing the sidechain’s native gas token, and it will also support the transfer of other fungible tokens to and from the XRPL mainnet.
Ripple’s engineering team will also be collaborating with Peersyst to enhance XRPL’s interoperability and support the EVM sidechain launch. Peersyst CEO Ferran Prat said he was confident in the Axelar bridge, highlighting its industry-wide recognition and successful integrations, including Uniswap and Microsoft.
Mentioned in this article
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Editor Editor 
Andjela Radmilac
Armed with a classical education and an eye for news, Andjela dove head deep into the crypto industry in 2018 after spending years covering politics.
Latest Ripple Stories
In this article
Theย XRP Ledgerย is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.
Brad Garlinghouse stands at the forefront of financial technology as the CEO of Ripple.
