🪙Ripple Starts Testing Its New Stablecoin on Ethereum and XRP Ledger.

Fintech firm Ripple today announced that it had started testing its new stablecoin on its own blockchain and Ethereum. 

The San Francisco-based company said Friday that Ripple USD (RLUSD) would help meet worldwide demand for stablecoins and be used for cross-border payments. But its testing is only the first step.

“RLUSD has not yet received regulatory approval and therefore is not available for purchase or trading—please be cautious of scammers who claim they have or can distribute Ripple USD,” the company warned on Twitter.

Ripple added that while RLUSD is being tested on its native blockchain, XRP Ledger, and the second biggest crypto network, there are plans to run the asset on others.