After receiving regulatory approval last week, Ripple is launching the RLUSD stablecoin today. It is a traditional stablecoin fully backed by U.S. Treasury securities, bank deposits and cash equivalents under a New York Deed of Trust (NYDFS).

The initial list of crypto exchanges supporting RLUSD are Uphold, Bitso, MoonPay, Archax and CoinMENA, with others expected to follow: Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve and Zero Hash. This is a more extensive list compared to two months ago. New additions include Archax, Mercado Bitcoin and Zero Hash.

“Ripple made a conscious early decision to launch our stablecoin under the NYDFS Limited Purpose Trust Company Charter, widely considered the world’s leading regulatory standard,” said Brad Garlinghouse, CEO of Ripple. “As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD that offer real utility and are based on years of trust and expertise in the industry.”

Ripple confirmed that the cumulative Ripple payment volume to date is $70 billion. Notably, the XRP token’s market capitalization is more than double at $152 billion.

Potential use cases highlighted include cross-border payments, use for corporate treasury purposes, for DeFi, and as collateral for margin in trading. Perhaps the biggest advantage is that the company has developed more than 90 global payout markets.

The company also announced two additional members of the RLUSD Advisory Board. They are Raghuram Rajan, former Governor of the Reserve Bank of India, and Kenneth Montgomery, former First VP and COO of the Federal Reserve Bank of Boston. They join fellow members Sheila Bair, a former FDIC Chair, Partners Capital Vice Chair and former CENTER Consortium CEO David Puth, and Ripple Co-Founder and Executive Chairman Chris Larsen.

We published two analyzes on RLUSD back in October and last week.