Transak Adds Support for Ripple’s RLUSD Stablecoin for Global Fiat On-Ramping

• Users worldwide may now easily buy RLUSD using a variety of fiat currencies and payment options.
• With more than 8.3 million users worldwide, Transak is the biggest and most compliant Web3 payments infrastructure provider in the world.

The leading provider of Web3 payments infrastructure, Transak, has officially integrated support for Ripple USD (RLUSD), the company’s newly released enterprise-grade stablecoin. Users worldwide may now easily buy RLUSD using a variety of fiat currencies and payment options, including as bank transfers, credit cards, and debit cards, as of right now.

On the Ethereum network, RLUSD may be purchased using Transak. Ripple’s RLUSD stablecoin is fully backed and tied to the US dollar. Through a reliable P2P exchange medium, it adds transparency and confidence to the blockchain for institutional-grade assets.

The New York Department of Financial Services (NYDFS) oversees the issuance of RLUSD, which is backed 1:1 by USD and cash equivalents and is issued under a New York trust charter. Monthly attestation reports are provided for complete transparency.

Sami Start, CEO and co-founder of Transak stated:

“Transak has always strived to make finance truly accessible and that includes bringing on assets like RLUSD that balance blockchain ethos with compliance requirements. With this integration, users gain access to one of the most thoughtfully designed stablecoins in the market, now available through a seamless and trusted fiat-to-crypto experience.”

RLUSD was created to meet the demands of businesses (think worldwide settlements and treasury management). Additionally, millions of regular people worldwide may now readily access it because to listings like Transak.

With regulatory licenses and registrations in key areas such as the UK (FCA registered), USA (FinCEN MSB), and EU (via VASP registrations), Transak serves over 8.3 million users and is incorporated into over 450 wallets and dApps. For every authenticated user, this makes the RLUSD buying process easy and compliant with the law.

Transak consumers may purchase RLUSD with confidence thanks to a multi-level KYC procedure, proactive round-the-clock assistance, and industry-leading data security standards, such as ISO 27001 certification and SOC 2 compliance. Go to globaltransak.com or use the on-ramp straight from your preferred wallet or app to purchase RLUSD on Ethereum.

With more than 8.3 million users worldwide, Transak is the biggest and most compliant Web3 payments infrastructure provider in the world. With its API-driven fiat-crypto on/off-ramp, NFT checkout, and other solutions that streamline KYC, compliance, payment methods, and customer support, it powers over 450 platforms and makes it easier to buy and sell digital assets.

Transak, which was established in Delaware and has its headquarters in Miami, the United States, has offices in London, Milan, Dubai, and Hong Kong in addition to a tech cluster in Bengaluru.

The USD-denominated stablecoin of Ripple, known as Ripple USD (RLUSD), is intended to keep its value at one US dollar. Natively created on the Ethereum and XRP Ledger blockchains, RLUSD is completely backed by a separate reserve of cash and cash equivalents that can be exchanged 1:1 for US dollars. Real-time, safe, and compliant payments as well as simple fiat to stablecoin on/off ramps for exchanges, fintechs, cryptocurrency onramps, and other applications are made possible by RLUSD.

The issuer of RLUSD, Standard Custody, is a fully owned subsidiary of Ripple Labs and is governed by NYDFS as a limited purpose trust business. It must have 100% of its assets backed by highly liquid, short-term, transparent reserves. High safety and soundness standards are maintained by Standard Custody, including redemptions with stringent SLAs and NYDFS customer protection and reserve requirements.