Ripple USD (RLUSD) is a stablecoin designed to maintain a constant value of one US dollar (USD). It is fully backed by a segregated reserve of cash and cash equivalents, ensuring that it is redeemable 1:1 for US dollars. The stablecoin is available on the XRP Ledger and the Ethereum blockchain, leveraging both blockchain infrastructures for fast and secure transactions. Ripple USD acts as a bridge between traditional financial systems and decentralised finance (DeFi) solutions, simplifying the transition between the two systems. It is issued by Standard Custody & Trust Company, LLC (SCTC), a subsidiary of Ripple.

Ripple USD (RLUSD) serves multiple purposes, including acting as a stable medium of exchange and a tool for financial integration between traditional banking systems and Web3 technologies. Specifically, RLUSD provides a secure, stable, and programmable digital asset that can be easily integrated into decentralised applications (dApps) and payment solutions. It functions as an on-ramp and off-ramp for users transitioning between fiat currencies and cryptocurrencies. Additionally, it can be used in various DeFi platforms for lending, borrowing, or trading, ensuring that users maintain the stable value of USD while interacting within decentralised systems.

Ripple USD (RLUSD) is issued by Standard Custody & Trust Company, LLC (SCTC), a subsidiary of Ripple. SCTC is a regulated financial entity that adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, ensuring compliance with global regulatory standards. The development and technical implementation of Ripple USD were done by Ripple engineers, particularly leveraging the Issued Tokens functionality on the XRP Ledger and the ERC-20 standard on Ethereum.