RLUSD Explained: Ripple's Dollar-Pegged Stablecoin Backed by Cash and T-Bills

RLUSD is a regulated stablecoin issued by Ripple Labs, the company behind the XRP blockchain, pegged at one US dollar per token. Each token is backed one-to-one by a reserve of cash, short-term US Treasury bills, and cash equivalents, and can be redeemed for US dollars by approved users.