Ripple: Stablecoin RLUSD testing has been launched on XRP Ledger and Ethereum mainnet

BlockBeats news, on August 10, Ripple announced on the X platform that the stablecoin Ripple USD (RLUSD) is now in beta testing on the XRP Ledger and Ethereum mainnet, but RLUSD has not yet been approved by regulators, so it cannot be purchased or traded, and the community needs to be wary of fraudsters who claim to own or can distribute Ripple USD.

Ripple said that RLUSD is valued at a 1:1 ratio with the U.S. dollar (USD) and is 100% backed by U.S. dollar deposits, short-term U.S. government bonds and other cash equivalents. These reserve assets will be audited by a third-party accounting firm, and Ripple will issue certificates monthly.