📌Ripple Functions as Stablecoin $RLUSD as off-Ramp for Tokenization Funds of BlackRock and VanEck.📝

📍Ripple announced that its stablecoin, RLUSD, now functions as an off-ramp for tokenization funds owned by BlackRock and VanEck through a partnership with Securitize. Through a smart contract developed jointly with Securitize, holders of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and the VanEck Treasury Fund (VBILL) can instantaneously swap their shares for RLUSD, 24/7.

📍RLUSD, which is 1:1 backed by the US dollar and short-term Treasury assets and regulated by the New York Department of Financial Services (NYDFS), offers on-chain liquidity while being compatible with DeFi. BUIDL, managed by BlackRock, has an AUM of over $2 billion, while VBILL from VanEck manages around $74 million. This partnership expands the utility of RLUSD, which has previously been used in joint use cases with DBS and Franklin Templeton for trading and lending of tokenized assets.

📍Jack McDonald, Senior Vice President of Stablecoins at Ripple, stated that this move complements Ripple's strategy to bridge TradFi and crypto, with RLUSD designed for institutional needs that require regulatory clarity and stability. This move strengthens Ripple's position in the asset tokenization market.

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