Blockchain company Ripple is releasing its own long-awaited stablecoin tomorrow after receiving approval from the New York Department of Financial Services (NYDFS) last week. The coin, named RLUSD, is an effort to advance Ripple’s goal of becoming the go-to network for international payments.

Ripple (XRP) confirmed in a press release on Monday that its RLUSD stablecoin will officially launch on Tuesday across exchanges, including MoonPay, Uphold, CoinMENA, Bitso and ArchaxEx. Bullish sentiments surrounding the launch could help XRP overcome the $2.58 and $2.92 resistance levels.

While RLUSD’s price will always be redeemable for $1, some onchain “collectors” are likely bidding to be the first to hold the much-awaited Ripple stablecoin.