Ripple stablecoin RLUSD becomes the share redemption channel for BlackRock and VanEck tokenized funds

According to ChainCatcher, citing Cointelegraph, Ripple and the security token issuance platform Securitize have integrated the stablecoin Ripple USD (RLUSD) as a redemption channel for shares in security token funds under the two major crypto investment giants, BlackRock and VanEck.

Ripple and Securitize have launched a smart contract that allows holders of BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) and VanEck's Treasury Fund (VBILL) to redeem their security token shares for the stablecoin Ripple USD (RLUSD). This smart contract enables investors in BUIDL and VBILL to instantly redeem their shares for RLUSD at any time, facilitating more on-chain transfer operations.