Ripple USD

The right to redeem RLUSD with Ripple passes to each new holder, if that holder is eligible and becomes a customer.

“Sending RLUSD to another blockchain address automatically transfers and assigns to that holder, and any subsequent holder, the right to redeem RLUSD for an equivalent amount of U.S. dollars from Ripple so long as the holder of such RLUSD is eligible to, and does, become a Customer.”

RLUSD gives no right to withdraw any of the reserve assets.

“RLUSD does not convey any right to withdraw any assets held in the Reserve.”

Ripple states that Standard Custody, the issuer, is chartered and supervised by the New York DFS as a limited purpose trust company.

“Standard Custody, the issuer of RLUSD, is chartered and supervised by NYDFS as a limited purpose trust company”

Customers can redeem each RLUSD for one US dollar with Ripple, subject to the customer agreement.

“Each RLUSD can be redeemed by Customers for one (1) U.S. dollar with Ripple, subject to applicable conditions and limitations in the RLUSD Customer Agreement.”

Buying from or redeeming with Ripple requires being a customer under the RLUSD Customer Agreement.

“You further understand that, to purchase RLUSD from or redeem RLUSD with Ripple, you must be a Customer subject to the RLUSD Customer Agreement.”

Redemption is one RLUSD for one dollar less fees; the user terms do not state the fee amounts.

“a Customer can always redeem one (1) RLUSD for 1 U.S. dollar ($1) with Ripple, less Fees”

Attacks, backlogs or failures on a supported network may delay or prevent minting and redeeming.

“Any such attacks, backlogs, failures, changes or delays on any Supported Network might materially delay or prevent Ripple from minting, redeeming, or sending and receiving RLUSD.”

Ripple states that RLUSD is backed by US dollars and other cash equivalents, held in segregated accounts.

“RLUSD is backed by U.S. dollars and other cash equivalents, with reserves held in segregated accounts.”

Ripple states that an independent accounting firm prepares monthly reserve reports.

“We provide monthly reserve reports conducted by an independent third-party accounting firm.”

Ripple may freeze RLUSD by blacklisting an address if law or its internal compliance policies require it.

“(a) Ripple may freeze RLUSD by blacklisting a particular digital address rendering the associated digital wallet, which may be a User Wallet, restricted from transmitting or receiving RLUSD at its sole discretion if required to do so by Applicable Law or Ripple’s internal compliance policies.”

Ripple may burn RLUSD in one wallet and mint new RLUSD into another if law or its compliance policies require it.

“(c) Ripple may burn (i.e., destroy) RLUSD held in a particular digital wallet and to mint new RLUSD into a different digital wallet at its sole discretion if required to do so by Applicable Law or Ripple’s internal compliance policies.”

Amended terms take effect when posted; continued use of RLUSD counts as acceptance.

“Each amended version will be effective as of the time it is posted, and User’s continued use of RLUSD, after the posting of an amended version, constitutes User’s acceptance of the amended version.”