# Ripple Begins Testing RLUSD Stablecoin on Ethereum & XRP

*Author: David Christopher*
*Published: Aug 9, 2024*
*Source: https://www.bankless.com/de/ripple-usd-testing*

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Fresh off the [end of a years-long legal battle](https://www.bankless.com/xrp-pumps-as-ripple-trial-ends-with-125m-fine) with the SEC, which, despite ending with a $125M fine for Ripple, was largely seen as a victory for the crypto startup. Ripple is beginning testing its RLUSD stablecoin on Ethereum and XRP.

## What's the scoop?
- **Beta Testing on Ethereum and XRP Ledger:** Ripple announced the beta testing of its stablecoin, Ripple USD (RLUSD), on both the Ethereum mainnet and XRP Ledger.
- **Stablecoin Backing and Audits:** Backed by short-term U.S. Treasuries, dollar deposits, and cash equivalents, RLUSD will undergo third-party audits and have monthly attestations.
- **Phased Rollout: **Currently in its beta phase, RLUSD is being tested by Ripple's enterprise partners before wider availability, pending regulatory approval, which would make it tradeable.

## Bankless Take:
Ripple looks to be hitting the ground running after its [settlement this week](https://www.bankless.com/xrp-pumps-as-ripple-trial-ends-with-125m-fine). RLUSD will face major competition, though, against larger, more established plays like Tether's USDT and Circle's USDC, which currently dominate the market. Given the methods we’ve seen [PYUSD](https://www.bankless.com/stablecoins-rwas-solana) employ to gain market share like launching incentive programs in DeFi, it will be interesting to see if Ripple takes a similar approach for RLUSD. 

[XRP Pumps As Ripple Trial Ends with $125M Fine on BanklessThe SEC’s planned mega-fine was slashed considerably by a federal judge.![](https://www.bankless.com/assets/img/favicon/apple-touch-icon.png)BanklessDavid C![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/08/lu.ma._an_insanely_good_investment_opportunity_2018368e-7ed7-410a-bb31-d7b7901eaeaa.webp)](https://www.bankless.com/xrp-pumps-as-ripple-trial-ends-with-125m-fine)
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