TechFlow news, December 23 — According to CrowdFundInsider, Bitso, a leading cryptocurrency exchange in Latin America, announced the launch of RLUSD, a stablecoin issued by Ripple. The stablecoin is pegged 1:1 to the U.S. dollar and fully backed by equivalent U.S. dollars and cash equivalents, primarily targeting cross-border payment use cases.
Daniel Vogel, CEO of Bitso, said the company's long-standing partnership with Ripple has enabled multiple innovative applications, including cross-border payments. RLUSD will be available through the RLUSD/MXN trading pair on Bitso Alpha platform, and users can deposit and withdraw the token in the form of Ethereum ERC-20 tokens.
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