Ripple has officially unveiled Ripple USD (RLUSD), confirmingĀ RLUSD as its forthcoming stablecoin trading symbol. This announcement first came from Rippleās CEO Brad Garlinghouse during his session at the ongoing XRP Ledger Apex summit. Also present at the session was Ripple CTO David Schwartz.
When asked, Garlinghouse revealed that the Ripple stablecoin will be named RLUSD, humorously referring to it as the āReal USD.ā However, he noted that the term āRLUSDā was inspired by āRipple USD.ā
While the trademark application was still under review, community members stumbled upon the filing and began speculating that RLUSD might be the chosen ticker for Rippleās stablecoin.Ā
The application detailed that RLUSD would be used for electronic financial services, specifically for managing virtual currency payments and transfers.
During the period of speculation, Ripple neither confirmed nor denied the rumors. The eventual confirmation of RLUSD as the stablecoinās name has not gone uncriticized as community members had hoped for names like USDX or USDR.
However, asĀ reportedĀ by The Crypto Basic, Ripple is unable to use USDX or USDR due to their prior adoption by other entities in the stablecoin market. Specifically, Flare Networks had alreadyĀ announced USDXĀ as the name for its stablecoin, and āUSDRā has been adopted by the issuer of the Real USD stablecoin.
