Ripple Labs CEO Brad Garlinghouse announced at Korea Blockchain Week that the company's U.S.-dollar pegged stablecoin, "Ripple USD" (RLUSD), is set to launch within weeks. He emphasized that Ripple saw an opportunity following USDC temporary depegging in March 2023, given Ripple's strong ties with financial institutions. RLUSD will be backed by U.S. dollar deposits, Treasuries, and cash equivalents, with plans to deploy on both the XRP Ledger and Ethereum blockchain as an ERC-20 token. Source: Coindesk