Ripple Launches Platform for Institutional Use of RLUSD, Invests in Compliance Firm
Ripple has introduced Ripple Mint, a new platform enabling institutions to mint, redeem, and manage its stablecoin Ripple USD (RLUSD) through an integrated console. The company also announced an investment in compliance firm Notabene to enhance identity verification and transaction authorization for RLUSD transactions. Standard Custody & Trust Company issues RLUSD under New York state regulation. Jack McDonald of Ripple highlighted the significance of this move, stating it supports globally compliant stablecoin transfers. Ripple Mint offers both a web console and APIs for automation, with real-time tracking and alerts to streamline reconciliation processes. Ripple's investment in Notabene addresses regulatory concerns around identity verification before settlement. This follows recent compliance milestones such as Ripple Payments' Markets in Crypto-Assets registration in Europe. The developments aim to scale institutional adoption of RLUSD while reinforcing XRP Ledger usage through multichain support.
Topics: compliance institutional adoption Notabene Ripple RLUSD