Ripple: Has Launched Stablecoin RLUSD Testing on XRP Ledger and Ether Mainnet

Ripple announced on the X platform that the stablecoin Ripple USD (RLUSD) is now in Beta testing on the XRP Ledger and the main Ether network, although RLUSD has not yet been approved by regulators, so it cannot be purchased or traded, and the community will need to be wary of scammers claiming to own or be able to distribute Ripple USD. Ripple says RLUSD is valued at a 1:1 ratio to the U.S. dollar (USD) and is 100% backed by USD deposits, short-term U.S. government treasury bonds, and other cash equivalents, and that these reserve assets will be audited by a third-party accounting firm, and that Ripple will release proofs on a monthly basis.