The new rating is available on the company's website. Bluechip confirmed that it is officially starting to cover the RLUSD stablecoin.
The stablecoin was described as the new benchmark for trust and compliance in the industry. The rating highlights the growing strength of Ripple's strategy with stablecoins, especially among institutional users.
According to the X publication of the rating agency, a key factor in the rating of RLUSD is its reserve structure. Bank of New York Mellon holds the reserves of the RLUSD stablecoin, being the largest custodian of financial securities worldwide.
The bank is also considered a systemically important financial institution in the United States. Segregated accounts are used to store the reserves and all claims in the event of Ripple's bankruptcy.
Bluechip emphasized that this structure offers strong protection to token holders and distinguishes RLUSD from other stablecoins. RLUSD is one of the first prominent stablecoins backed by blockchain to enter Europe through Luxembourg under MiCA.
In response to the new ratings from Bluechip, Ripple stated in a post on X that the RLUSD stablecoin is specifically designed for enterprise use. It focuses on regulatory compliance, global scalability, and robust security.
Ripple also claimed that the stablecoin is designed to meet the growing demand for reliable settlement tools on blockchain among large corporations. Ripple thanked the agency for the recognition. It described the rating as an acknowledgment of its stablecoin as the most trustworthy in the market.
