Ripple, a leading provider of digital asset infrastructure for financial institutions, has announced Ripple USD (RLUSD) will be available on…

Ripple, a leading provider of digital asset infrastructure for financial institutions, has announced Ripple USD (RLUSD) will be available on global exchanges. RLUSD is an enterprise-grade, USD-denominated stablecoin. Created with trust, utility, and compliance at its core, it is backed by Ripple’s years of experience working with crypto and the existing financial system.

RLUSD will be initially available on Uphold, Bitso, MoonPay, Archax, and CoinMENA. Additional listings will be made on platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, Zero Hash and others in the coming weeks. Each RLUSD token is fully backed by U.S. dollar deposits, government bonds, and cash equivalents. Designed to ensure its stability, reliability, and liquidity. To maintain the highest standards of transparency, Ripple will publish monthly, third-party attestations of RLUSD’s reserve assets, conducted by an independent auditing firm.

“Early on, Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter. Widely regarded as the premier regulatory standard worldwide,” said Brad Garlinghouse, Ripple’s CEO. “As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD. They can offer real utility and are backed by years of trust and expertise in the industry.”

A Growing Ecosystem Supporting Global Adoption

Key RLUSD partners include leading global exchanges, market makers, and payment providers. They are set to drive adoption and usage across the Americas, Asia-Pacific, UK, and Middle East regions. RLUSD is ideal for financial use cases and allows institutions to:

  • Facilitate instant settlement of cross-border payments.
  • Access liquidity for remittance and treasury operations.
  • Seamlessly integrate with decentralised finance (DeFi) protocols.
  • Reliably bridge between traditional fiat currencies and the crypto ecosystem. Ensuring a seamless and efficient transition when entering (on-ramping) or exiting (off-ramping) the crypto space.
  • Provide collateralisation for trading tokenised real-world assets such as commodities, securities, and treasuries onchain.

Early next year, Ripple Payments will use RLUSD to facilitate global payments on behalf of its enterprise customers. Ripple Payments has served $70 billion in payments volume and counting. Furthermore, it has near-global coverage with 90+ payout markets. Moreover, this represents over 90% coverage of the daily FX market. RLUSD is available on both the XRP Ledger and Ethereum blockchains, offering flexibility and scalability for a broad range of financial use cases.

RLUSD: Raising the standard for Stablecoins

Raghuram Rajan, former Governor of the Reserve Bank of India, and Kenneth Montgomery, former First Vice President and Chief Operating Officer of the Federal Reserve Bank of Boston, will join the RLUSD advisory board. They will provide strategic guidance on regulatory, financial, and operational aspects to support RLUSD’s stability and growth.

Rajan and Montgomery join the ranks of the existing advisory board including former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, Vice Chairman of Partners Capital and former CENTRE Consortium CEO David Puth, and Ripple co-founder and Executive Chairman Chris Larsen.

“Stablecoins could become the backbone of private payments by offering a secure, scalable, and efficient alternative to traditional systems. With its focus on compliance and reliability, RLUSD aims to establish new standards for trust and to play a pivotal role in shaping the future of payments. Joining the Advisory Board provides me an opportunity to counsel RLUSD as it embarks on its journey in the rapidly evolving financial landscape,” said Raghuram Rajan, former Governor of the Reserve Bank of India.

“I am excited to join Ripple’s advisory board at such a pivotal moment for digital finance,” said Kenneth Montgomery, former First VP and COO at the Federal Reserve Bank of Boston. “Stablecoins are rapidly emerging as a cornerstone of the payments landscape. They are delivering the speed, efficiency, and cost-effectiveness that traditional systems often struggle to achieve. I look forward to collaborating with the Ripple team to support the global growth and adoption of RLUSD. Unlocking new opportunities for financial inclusion and modernising the future of payments.”

Ripple: modernising the future of payments

RLUSD sets the standard for stablecoins, combining innovative functionality with the regulatory rigor and credibility of an NYDFS-issued New York limited purpose trust company. Furthermore, this highlights Ripple’s leadership in fostering trust and transparency in digital assets.

Ripple’s President Monica Long commented on X: “The release of RLUSD marks a new chapter – both for the XRP Ledger, as well as Ripple, for use in our $70B payments flows. Combining our 10+ years in the business; the rigour and compliance required with stablecoin issuance by a NYDFS chartered company; and an experienced Advisory Board – RLUSD is launching from day one with credibility, utility and a whole host of partners ready to support it!”

  • Digital Payments

We chatted to Gabe Perez from RiseNow about prioritising humans during technological transformation.

RiseNow, as a procurement and supply chain strategy and design firm, is firmly plugged into the needs of the sector’s functions as they evolve. Its growth has been organic thanks to customers demanding exactly what they want. They can’t simply implement tech with the goal of ‘go live’ anymore. They need expert help to define the real outcomes. 

RiseNow provides end-to-end guidance for customers. This ensures that when they implement new systems, they explore the whole picture from the beginning. It was a topic discussed in detail at DPW NYC in June, where we met up with Gabe Perez, Chief Strategy Officer.

“What we’re seeing in the market is that people are asking for guidance around operating models,” says Perez. “Our focus right now is trying to keep up with demand. There are a lot of different service providers out there.

“We’re showing RiseNow’s clients how to design, execute, and operate. So we’re really focused on helping customers end-to-end, whether they’re optimising what they currently have, or starting from a new platform.”

Humans first, then technology

As procurement continues to digitise, roadblocks that hinder technology’s effectiveness and promise of value become more apparent. One of these is implementing technology for technology’s sake. Or, simply using tech to digitise already-existing processes versus examining the why behind those processes. 

“As David Rogers from Columbia Business School said, the best technology is not the most important part of digital transformation,” says Perez. “People are at the core of it. Procurement has to start focusing more on outcomes and let that drive technology. People are running to technology for answers, but they don’t have the right operating model set up by the right people. Plus, there’s a huge talent shortage.”

Addressing the talent shortage

Outside of technology, the talent shortage across procurement was a repeated topic of conversation during DPW NYC. Just as it is during CPOstrategy’s general conversations with leaders. Procurement has been too vague a concept for too long, and overlooked in the grand scheme of many businesses for decades.

“One of the issues is making roles attractive,” Perez states. “I recommend proposing the problems you’re trying to solve and asking whoever you’re interviewing: ‘how would you solve this?’ Because with all the cool tech we now have at our fingertips, they’re going to come up fresh ideas. The talent exists – they’re just not being engaged and attracted. That’s where tech comes into play.”

And technology moulded by a people-centric focus was another major theme of the day at DPW NYC. “While AI in procurement is a huge topic right now, creativity is still going to come from humans – not artificial intelligence,” Perez points out. 

“You need human minds to see the value of things. This is to figure out how money can be driven out of the bottom line and into the top line. Humans are still needed for proving that procurement needs to take risks to be better. AI is a great tool, but it still needs us.”

You can read our full rundown of DPW NYC here.

Leveraging Radius Networks location technology for curbside pickup, in-store order delivery, and payments.

Technology has and always will be used to solve problems. At the very basic level, technology is developed and used to make things simpler. Just look at our day to day lives and the way that technology has, for the most part, made our experiences simpler and this has changed the way we as consumers engage with retailers and restaurateurs. We now expect and outright demand that the businesses we enter and purchase food and items from offer the same level of seamlessness that we experience in our own homes. The interesting thing however, is that this isn’t necessarily a new challenge for restaurants and retail stores; these businesses have been looking to enable the most seamless and effective customer service since the very beginning. The only real thing that’s changed is the tools that they have at their disposal. 

“At the end of the day, I think this goes for business philosophy in general, you really need to understand the problems that your customers have, and then solve them,” explains Marc Wallace, CEO and Cofounder of Radius Networks, a location technology service provider. “In our case, customers are businesses, such as restaurants, grocery stores, retailers or casinos; so we are targeting very specific problems. In most cases, those problems are taking wasted time out of the equation.”

Picture the traditional, and maybe even stereotypical, restaurant environment, where a food order is ready to go to the table and the service staff has to locate and identify the corresponding table to that order. In some instances, more than most, they may even walk throughout the entire restaurant before arriving at the right table with the right customer. Through wireless-enabled location technology, Radius Networks has transformed the customer experience by allowing businesses to track customers, improve profit margins and ultimately increase customer retention. 

Customers have, and will always, vote with their feet, and in order to retain those customers, businesses need to be able to remove the pain points. As Wallace noted, wasted time is one of the single biggest pain points in customer service. Radius Networks offers location-based curbside pickup, in-store and table service solutions, as well as mobile payment technology to remove not only the one pain point, but multiple pain points. “We’re addressing other key problems, such as payments. When you dine-in at a restaurant and are in a hurry to leave, trying to get your server’s attention to pay for your bill can be frustrating for the customer. It leaves a bad taste in their mouth at the end of their dining experience,” says Wallace. 

“We’ve developed solutions for making payments remotely without contacting the server. The server is notified when the bill is paid, and they can focus their attention on real problems that other customers have instead of shuttling credit cards back and forth.”

At the time of writing, the world has been gripped by the COVID-19 pandemic, a truly unprecedented event that has completely devastated lives and economies all over the world. It has also completely ripped up the rulebook when it comes to food and retail, with lockdown restrictions forcing businesses to either close down entirely, or pivot to delivery services. Radius Networks’ FlyBuy curbside pickup solution was actually launched over 12 months ago, but it has fast become a key technology offering that is solving an unforeseen problem. By automating the curbside delivery service for customers, FlyBuy provides a turnkey, end-to-end solution that uses the customer’s location for a faster, easier order pickup experience. “There was already a pre-existing return on investment (ROI) with FlyBuy because we were reducing the wait times for customers when ordering for pickup, which results in more frequent visits” says Wallace. “Throughout this pandemic, curbside delivery has become the only channel that people can do, so the importance of it has risen dramatically. It was once within a business’s top ten things it needed to consider, and has now risen to the very top of their to-do list.” 

Radius Networks is currently offering a free version of both its FlyBuy curbside and buy-online-pick-up-in-store (BOPIS) software for restaurants, retailers, and non-profits during the COVID-19 crisis.

By its very definition, location tracking technology appears to be very intrusive. It is tracking locations and using that data to inform decision making, after all, and naturally that can cause a little fear and a hesitation. Wallace acknowledges these concerns and understands them wholeheartedly. “We had a decision to make early on in the company whether we were going to harvest data and use it for marketing purposes or whether we were going to be a privacy-centric company and focus on providing a solution,” he says. “We chose to be a privacy-centric company, mostly because all of us as individuals wanted that for ourselves.”

“When it comes to us as a location company, are very transparent with our customers and our businesses, so that they can be transparent with their consumer customers about what we’re doing with their location data, what we’re using it for, and how long we’re keeping it.”

This transparency is built into the very DNA of the company. FlyBuy will only ever use the location data to alert restaurant/retail staff that a customer is on the way and onsite to pick up their order, and only after the customer has opted-in to sharing that information. After a period of time has passed, they will then delete that data entirely. Its policy dictates that it does not, and will never, share that data with any third party, giving customers peace of mind that their data is safe and used only as agreed when they opt-in. Wallace believes that, while the reluctance and fear is understandable, consumers have access to services’ policies and can ‘do some homework’ in order to allay them. “I think, given the amount of options we are given today, customers can no longer just assume every location company is tracking or doing something devious with their information. They need to be aware when they approve location usage and when they don’t,” he says. “If they can be sure that sharing their location brings value to them, whether it be to have a car service come to their exact location, or their groceries meet them at their car immediately upon arriving in the pickup zone, they will happily share their location. Once they have established a level of trust in the people that are requesting location permissions, and see the benefits it brings to their lives, there is no problem.”

Radius Networks was founded in 2011, and for the best part of a decade, it has grown from strength to strength as a business, working with the likes of McDonald’s, Five Guys, and Coca-Cola, as well as being recognized in the INC 500, the Deloitte Fast 500, and the CIO Magazine’s Most Promising Digital Experience Solution Provider. But none of these successes would have been made possible, without a solid and sound foundation within the business. “I’ve been told by people ‘wow you guys got really lucky.’ Luck had absolutely nothing to do with it. Our mission is to solve problems for businesses, and right now businesses need our help more than ever. There were a lot of really difficult times over the years where we worked hard and earned the right to stay in the game, and we are once-again earning it right now,” says Wallace. 

“Take FlyBuy as an example. I’ve been asked as to whether I thought this piece of technology that we developed over the last few years would ever be as important as it is right now. Yes. Yes I did, and so did everyone else on our team, and that’s key to our success as a company. Every single person at Radius Networks is engaged and believes in what we do.”

In these times of crisis, the spotlight has shifted significantly onto those business fundamentals and Wallace is extremely proud of the business he has built and the people within it. “The business principles that we’ve been practicing over the last few years have paid off. We are a strong company with sound fundamentals and sound financials. We haven’t over extended ourselves, either from an investment perspective or from an expenses perspective and that’s paying off for us now,” he says. 

“It is tough in the current environment to point to positives, because you almost feel ashamed to do so. I think we’ve done a lot as a company to help others; we’ve given our product away for free to hundreds of small businesses, thousands of locations, with no obligation, and it’s a testament to the work we have done to get to this point. A lot of companies are doing a lot of good work to help each other right now and they can do so because they are built on solid foundations.” 

Those foundations start from the very top. Wallace is a key advocate in communication. Much like Radius Networks communicates in an open and transparent way with its customers, the same rules apply from within. He admits that the pandemic has, ironically, made that communication better in some aspects, but it has always been a key part of what makes Radius Networks tick. “We’re talking to our customers all the time. My team is the best team in the world. They’re working in overdrive right now, communicating at such a high level, and listening to customer needs, because their needs have changed dramatically,” he says. 

“As the CEO, I try to have frequent hands-on-deck tag-ups with everybody to give them an update and try to be as transparent as possible about the status of the business and what’s happening. I do this so they can feel comfortable that they have a job today, and they’ll have a job tomorrow. We work together to come up with our team goals, and stay aligned and upfront about everything that may come up along the way.” 

Listening to the customer is key. That much is no secret. But when it comes to technology, listening to customers is absolutely essential when ensuring that what you’re offering is what the customers need and what they want. Wallace’s role as the CEO is not to sit at the top of the business and leave it to everyone else. He is very much active and engaged at every level to ensure that everything Radius Networks is doing is driven by the customer. Wallace is proud of the culture within his business and often finds himself sitting on a call with a major customer and beaming at how well his team listens and understands the customer’s needs and how Radius can successfully address them. “I’m so proud that we, as a team, have a culture that takes so much pride in their work,” he says. “Our people have always been solid employees, pre pandemic, but they have become absolute rockstars today.”

The world as we know it has changed forever and we cannot begin to predict what this new world will look like post pandemic. One thing is for certain, communication, and the way in which businesses engage with their customers, will never be the same again. Radius Networks has enjoyed success after success over the past ten years, and as we all experience great uncertainty, the goal for Wallace is to continue providing valuable location technology for many years to come. The key to succeeding, regardless of such uncertainty, remains the same for Wallace and his team. “Persistence,” he says. “It’s about persisting through the bad times, just like the good times, and trusting your business fundamentals and experience. Being transparent with employees and having a good team around you is key.”