Ripple has begun testing its stablecoin, Ripple USD (RLUSD), on both Ethereum's mainnet and the XRP Ledger. The beta phase aims to ensure the token meets high standards for security, efficiency, and reliability before its wide availability after regulatory approval. RLUSD is backed by short-term US Treasuries, dollar deposits, and cash equivalents, with audited reserves and monthly attestations planned.

Source: https://www.coindesk.com/business/2024/08/09/ripple-begins-testing-its-stablecoin-on-ethereum-and-xrp-ledger/?utm_medium=referral&utm_source=rss&utm_campaign=headlines