- Ripple’s RLUSD Stablecoin is initially only available for institutions. Later, retail users will have access to the coin through intermediaries.
- Ripple has focused on scalability, user trust and scalability in the XRP Ledger.
As its official launch approaches, Ripple’s RLUSD stablecoin has gained traction. Retail investors who are hoping to obtain the token will likely be disappointed.
The following is a list of Ripple’s CTO, David Schwartz, RLUSD The USDC or USDT stablecoins are likely to be distributed only directly to institutions.
Once the stablecoin is widely available, retail consumers hoping to get RLUSD in a direct manner will have to rely heavily on exchanges and intermediaries.
Only institutions will have access to it. Why can’t I get USDC through Circle, or USDT via Tether?
— David “JoelKatz” Schwartz (@JoelKatz) September 8, 2024
RLUSD Institutional focus to mitigate regulatory risks
Ripple takes a conservative stance to minimize regulatory risks.
Ripple’s goal is to provide a safe and controlled environment for the launch of its product by only making it available to institution clients at first, thus reducing any potential regulatory problems.
Tether and Circle two major competitors in the stablecoin industry, prioritised institutional access to their stablecoins before making them available to the general population. Ripple seems to have taken a similar approach. However, many in the crypto community are disappointed, as they expected a direct option for individuals.
Ripple also has a history of rigorous testing before the release to public. CNF had previously revealed Ripple burned 185 RLUSD tokens in a private beta testing, leaving no tokens left.
Ripple has a plan to keep complete control of its stablecoin supply, until the coin is ready for distribution. This test burn took place as part the protocol.
The XRP Ledger also has a $1 trillion trust fund for RLUSD Ripple’s technology is both scalable as well as trusted by users. Ripple has set a high limit for trust to demonstrate its desire to use RLUSD in a large scale institutional setting.
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