Ripple USD (RLUSD) is a U.S. dollar-backed stablecoin issued by Standard Custody & Trust Company, LLC, a New York limited-purpose trust company and wholly owned subsidiary of Ripple Labs Inc. Launched publicly on December 17, 2024, following approval from the New York Department of Financial Services (NYDFS), RLUSD is designed to maintain a 1:1 value with the U.S. dollar and serve as a regulated, blockchain-based settlement asset for institutional payments, treasury operations, cross-border transfers, and decentralized finance applications.