Ripple (XRP) launch RLUSD Today
Ripple formally announced (RLUSD) stablecoin launch on December 17. The stablecoin product will be available on top cryptocurrency trading platforms after its launch. Cassie Craddock of Ripple says Bitstamp will be on the list of exchanges.
RLUSD will be accessible on Uphold, MoonPay, Archax, and CoinMENA starting today In addition to Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash,. RLUSD will be accessible on the XRP Ledger and Ethereum, enabling widespread adoption for different applications, from cross-border payments to decentralized finance.
The CEO of Ripple, Brad Garlinghouse, stated that he anticipates stablecoin products being used more widely. Garlinghouse also highlights that they provide “real utility.”.
The news has caused the XRP token to rise slightly amid Bitcoin’s new milestone. The market has largely priced in the upcoming stablecoin product launch. The RLUSD stablecoin was introduced following a massive rally in XRP.
The chief technology officer of Ripple, David Schwartz, recently cautioned against making predictions about the price of the highly anticipated stablecoin after someone indicated that they would be willing to pay $1,200 for a fraction of one token. Schwartz has cautioned that it won’t be long before the stablecoin’s supply stabilizes. In his remarks regarding the announcement, Schwartz stated that he anticipated increased liquidity on the XRP Ledger due to the RLUSD stablecoin. He further disclosed that developers and users “who want the benefits of XRPL, RLUSD, and XRP” have “countless” options.
Ripple emphasizes frequent audits and the announcement of future reserves, viewing this stablecoin as a model of stability, dependability, and transparency. The stablecoin is made for particular applications, such as international payments, business liquidity, and DeFi integration. I
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