Ripple CEO Brad Garlinghouse announced on Tuesday that investors holding tokenized assets from BlackRock (BUIDL) and VanEck (VBILL) can now swap their shares for the Ripple USD (RLUSD) stablecoin. This stablecoin was introduced on-chain last December.
This move enhances both liquidity and adaptability, effectively connecting the world of cryptocurrency with traditional financial systems.
Moreover, RLUSD is being positioned as a preferred option for institutional investors in an increasingly competitive stablecoin market.
‘A Logical Progression’
Jack McDonald, who leads Ripple’s stablecoin initiatives, referred to this development as “a logical progression.”
Garlinghouse noted on social media that this integration offers immediate enterprise-level on-chain liquidity and showcases “genuine utility.”
Collaboration with Franklin Templeton
The announcement regarding BlackRock follows Ripple’s major partnership with financial powerhouse Franklin Templeton, valued at $1.5 trillion, along with DBS Bank. This collaboration aims to bring repo markets onto the blockchain using the RLUSD stablecoin.