MetaComp, a Singapore-based digital asset platform, has announced the distribution of Ripple USD (RLUSD), a USD-denominated stablecoin issued by Standard Custody & Trust Company, a subsidiary of Ripple Labs. This strategic move aims to enhance MetaComp’s StableX platform, a programmable foreign exchange and cross-border infrastructure powered by stablecoins, by providing institutional access to RLUSD.
The integration of RLUSD into StableX is set to reinforce its position as one of Asia’s most comprehensive stablecoin and FX liquidity hubs. The platform supports 31 currencies, enabling fast, transparent, and cost-effective cross-border transactions. Eddie Hui, Co-President and Chief Operating Officer of MetaComp, stated, “We are proud to support RLUSD as a dealer and to bring it onto StableX, enabling faster, smarter, and more cost-effective cross-border payments for merchants and settlement for institutions.”
RLUSD, designed to maintain a constant value of one US dollar, is issued on the XRP Ledger and Ethereum blockchains. It is fully backed by a segregated reserve of cash and cash equivalents, ensuring real-time compliant payments and easy fiat-to-stablecoin conversions. Standard Custody, the issuer of RLUSD, adheres to stringent safety and soundness standards set by the New York Department of Financial Services (NYDFS).
MetaComp, licensed by the Monetary Authority of Singapore, operates on a platform-to-business-to-client model, offering a suite of digital finance capabilities. The launch of RLUSD on MetaComp’s platforms is expected to significantly enhance cross-border payment solutions across the Asia-Pacific region and beyond.
“`
