Independent Reserve (IR), Singapore’s first licensed cryptocurrency exchange, has taken a significant step with the listing of Ripple’s new USD-backed stablecoin Ripple USD (RLUSD). This makes IR the first exchange in Singapore to offer RLUSD to its customers.
Starting today, Independent Reserve Singapore users can trade RLUSD on the platform’s order book and over-the-counter (OTC) space. This new offering enables IR customers in Singapore to access cross-border liquidity solutions that are faster, more cost-effective and increase global transaction speed.
RLUSD is a US dollar-pegged stablecoin available on both the XRP Ledger and Ethereum networks. It can be used in various applications including cross-border payments and decentralized finance (DeFi). The stablecoin is fully backed by US dollars and Ripple will publish monthly third-party audits to confirm its foreign reserves.
Lasanka Perera,…
