An RLUSD wallet for the XRP Ledger
OnWallet (onwallet.si) is an RLUSD wallet in your browser: it holds, sends and receives RLUSD, Ripple's US dollar stablecoin on the XRP Ledger, next to XRP. Your keys stay on your device, and the RLUSD wallet checks that what you add is Ripple's RLUSD and not a lookalike. It is the same XRP Ledger wallet you use for everything else.
What you need to hold RLUSD
- An active account. An XRP Ledger account exists once it holds at least 1 XRP, the base reserve, which stays locked.
- A trust line for RLUSD. Adding RLUSD in the RLUSD wallet creates it, with the "no rippling" setting, and locks another 0.2 XRP until you remove the token.
- A little XRP for fees. The network fee is about 0.00001 XRP per payment at normal load, paid in XRP.
Is it Ripple's RLUSD?
Anyone can issue a token with any name. A token called RLUSD from an account that is not Ripple's is not RLUSD. The RLUSD wallet shows the issuer of every token, and Ripple's RLUSD carries a verified badge.
| Token | Network | Issuer | Issuer address |
|---|---|---|---|
| RLUSD (Ripple USD) | Mainnet | Ripple | rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De |
| RLUSD (Ripple USD) | Testnet | Ripple | rQhWct2fv4Vc4KRjRgMrxa8xPN9Zx9iLKV |
A token whose name looks like RLUSD (RIUSD, RLU5D) from a different issuer gets a warning, and you must tick "I know this is a different token" before you can add it.
What Ripple can do with RLUSD
- Freeze: Ripple can stop your RLUSD balance from moving.
- Claw back: Ripple can take RLUSD back from your account.
- No transfer fee: RLUSD keeps no share of transfers between holders.
The RLUSD wallet reads this from the issuer's account and tells you in plain words before you add RLUSD.
Sending and receiving RLUSD
- To receive RLUSD, share your RLUSD wallet address after you have added RLUSD; your account must be able to hold it.
- To send RLUSD, the recipient must be able to hold it too, unless it is the issuer. Exchanges may also need a destination tag: ask for it, do not guess.
- Before you sign, the review screen shows the amount, the full address, the network fee and the network, read back from the exact transaction.
More in Send and receive and Networks and tokens.
Try it on Testnet first
On Testnet you can swap test XRP for test RLUSD, to try the RLUSD wallet without real money. The quote allows up to 2% for the price moving; if it would cost more, nothing happens.
OnWallet has had an internal security review only, not an independent security audit. Keep only small amounts in it for now.
Questions
- How much XRP do I need to hold RLUSD?
- At least 1.2 XRP: the XRP Ledger keeps 1 XRP locked in every account, plus 0.2 XRP for each token it holds, RLUSD included. Removing RLUSD once its balance is 0 releases its 0.2 XRP.
- How do I know my RLUSD is real?
- Only the issuer address says who stands behind a token. Ripple's RLUSD on Mainnet is issued by rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De. In the OnWallet RLUSD wallet it carries a verified badge, and a token named like RLUSD from any other issuer gets a warning.
- Can Ripple freeze my RLUSD?
- Yes. Ripple can freeze RLUSD and claw it back, and the wallet tells you so before you add it. RLUSD has no transfer fee.
- Can I try RLUSD without real money?
- Yes. On Testnet you can swap test XRP for test RLUSD in the wallet. Testnet XRP and tokens have no value.