Ripple has officially launched its USD-pegged stablecoin, RLUSD, on July 12, 2025, targeting the $685 billion global remittance market. CEO Brad Garlinghouse and CTO David Schwartz announced the initiative, emphasizing RLUSD's potential to slash transaction fees exceeding 6% and reduce settlement times from days to minutes. The stablecoin will integrate with platforms like Transak and Switzerland's AMINA Bank while operating on both XRP Ledger and Ethereum blockchains.
Garlinghouse stated: "Fees can take away more than 6% of total transfers, and money can take days to reach recipients... this will change soon through stablecoin integration." RLUSD aims to undercut traditional services like Western Union by enabling direct peer-to-peer transfers, particularly benefiting unbanked populations in low-to-middle-income countries where remittances constitute ~3% of GDP for over 80 nations.
Ripple is concurrently pursuing a U.S. trust-bank charter to bolster regulatory compliance. The launch coincides with Visa's expansion of stablecoin settlements in EMEA regions using USDC, signaling industry-wide momentum. RLUSD has already demonstrated utility through a $25 million donation to education nonprofits.