Ripple Labs has filed a trademark application for “RLUSD” as the ticker symbol for its upcoming stablecoin.
Details of the Trademark Filing
The application was filed on May 7, 2024, and covers a wide range of financial services related to the stablecoin, including:
- Receiving and disbursing payments in virtual currency and digital tokens backed by fiat currency
- Financial management and administration services, such as facilitating digital currency transfers
The Significance of RLUSD
The choice of “RLUSD” as the ticker symbol is strategic, as other potential tickers like “USDX” and “USDR” are already being used by other entities.
Ripple’s Stablecoin Plans
Ripple has been hinting at launching a stablecoin for some time, and this trademark filing is a significant step towards that goal. The stablecoin is expected to integrate with Ripple’s payment platform, Ripple Payments, to enhance cross-border transactions.
Conclusion
The RLUSD trademark filing is a major development in Ripple’s plans to become a full-service crypto company. While the official launch and details of the stablecoin are still pending, this filing marks another milestone in Ripple’s vision.
