Ripple CEO Brad Garlinghouse revealed the name of the company's forthcoming stablecoin during the XRP Ledger Community Summit (XRPL Apex) in Amsterdam.

In a panel discussion, Garlinghouse announced, "The name of the Ripple stablecoin is RLUSD; I prefer to call it Real USD or Ripple USD."

Although Garlinghouse didn't disclose the launch date, he expressed excitement about the project, emphasizing its alignment with the broader XRP ecosystem. RLUSD will be a dollar-pegged stablecoin available on both the XRP Ledger and Ethereum.

This announcement follows Ripple's recent appointment of Jack McDonald, CEO of its newly acquired Standard Custody, as Senior Vice President of Stablecoins.

RippleX, Ripple's development arm, has unveiled plans for the XRPL EVM Sidechain, which aims to introduce Ethereum Virtual Machine (EVM) compatibility to the XRP Ledger (XRPL).

This sidechain seeks to unlock new possibilities for developers on the XRP Ledger, particularly in DeFi and real-world asset tokenization, driving innovation and expanding the network's utility and reach.

The XRPL EVM sidechain will connect to the XRPL mainnet via a bridge, utilizing wrapped XRP (eXRP) as the native asset and gas token. The bridge will facilitate seamless asset transfers between XRPL and the EVM sidechain, enhancing interoperability and transaction efficiency.

The Axelar bridge will serve as the primary bridge for sourcing the sidechain's native gas token, while also supporting the transfer of other fungible tokens to and from the XRPL mainnet.

Ripple's engineering team will collaborate with Peersyst to bolster XRPL's interoperability and facilitate the launch of the EVM sidechain. Peersyst CEO Ferran Prat expressed confidence in the Axelar bridge, highlighting its widespread recognition and successful integrations, including Uniswap and Microsoft.