Ripple announced on the X platform that the stablecoin Ripple USD (RLUSD) is now in beta testing on the XRP Ledger and Ethereum mainnet, but RLUSD has not yet received regulatory approval and therefore cannot be purchased or traded. The community needs to be vigilant against fraudsters who claim to own or distribute Ripple USD. Ripple said RLUSD is valued at a 1:1 ratio to the U.S. dollar (USD) and is 100% backed by U.S. dollar deposits, short-term U.S. government Treasuries and other cash equivalents. These reserve assets will be audited by a third-party accounting firm, and Ripple will issue monthly certificates.