Ripple President Confirms Plans to Use XRP and RLUSD in Ripple Payment Solution

Ripple President, Monica Long, has confirmed that the company plans to use both XRP and RLUSD in its payment solution. This announcement comes as Ripple unveils its initial exchange partners for RLUSD, its stablecoin. The stablecoin is set to be available on various platforms, including Bitstamp, Independent Reserve, Bitso, MoonPay, CoinMENA, Bullish, and Uphold, pending approval from the New York Department of Financial Service (NYDFS). Long emphasized that RLUSD was created in response to the demand for an enterprise-grade stablecoin for financial applications. Despite concerns within the XRP community about XRP being replaced by RLUSD, Long assured that both tokens would be utilized in Ripple’s payment solution to enhance cross-border settlements. Ripple’s CTO, David Schwartz, also clarified that XRP will not be replaced, as it serves unique functions on the XRP Ledger. RLUSD is currently in closed beta testing on XRPL and Ethereum and is awaiting regulatory approval from NYDFS before its mainnet launch.