- Ripple’s RLUSD stabilcoin enhances Ripple’s payments ecosystem and positions XRP as a major liquidity asset.
- XRP’s demand may increase as RLUSD usage increases. This could enhance its use in cross-border global transactions.
Ripple launched the highly-anticipated stablecoin RippleUSD (RLUSD) marking a significant milestone in their efforts to revolutionize payments worldwide. CNF had previously highlighted Ripple’s expansion and integration of RLUSD in the XRP eco-system across two exchanges.
RLUSD was first announced in April and began trading after approval by the New York State Department of Financial Services. Ripple’s move puts it in direct opposition to stablecoin titans such as Tether’s USDT and Circle’s USDC. Both dominate the $150 Billion stablecoin market.
A Game-Changer for Cross-Border Payments
RLUSD will operate both on the Ethereum network as well as the XRP Ledger. There are plans to expand adoption of RLUSD across other exchanges. It won’t immediately be available on popular platforms such as Coinbase and Robinhood.
Brad Garlinghouse, CEO of Ripple, recently stated that RLUSD is important in extending Ripple’s global payment network.
Ripple deliberately chose, early on, to launch their stablecoin as a limited-purpose trust company under the NYDFS charter. This is generally regarded by the industry as being the most stringent regulatory standard. We expect stablecoins such as RLUSD to be adopted more widely in the U.S., especially since the regulations are becoming clearer. They offer real utility, and they’re backed up by decades of expertise and trust.
Ripple is a key player on the cross-border payment market worth $230 billion. RLUSD will enhance Ripple’s network of payments by offering additional options for liquidity alongside XRP.
RLUSD is a stablecoin that could be a major asset for Ripple. On-Demand Liquidity (ODL) services. Ripple aims for a smooth global payment system using both XRP (XRP) and RLUSD (RLUSD). This will challenge the existing banking infrastructure.
Regulations Challenges and Market Impact
According to industry experts, the launch of RLUSD may increase XRP demand. The integration of RLUSD within Ripple’s eco-system reinforces XRP as a bridge currency, which could increase its value and utility.
Ripple’s global expansion and the demand for stablecoins is increasing. crypto payments Landscape is set to undergo major changes.
The Ripple price (XRP) at the moment of this writing is roughly $. $2.74The a 12.42% In the past 24 hours, there has been an increase of approximately 3% 16.48% Coin Market Cap shows that XRP has gained over the last week. Below is a chart showing the XRP prices.
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