Ripple Stablecoin (RLUSD) Launch: Final Preparations
Date: 2024-10-15 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
In recent months, Ripple has unveiled its new solution, which will be pegged to the US dollar, and has already revealed the names of its first exchange partners.
RLUSD is planned to be used as a means of transacting with fiat currencies, as well as a trading channel for investing in real assets (RWA), which should significantly change the stablecoin market.
The first emission on the Ethereum and XRP Ledger blockchains has already begun, and now we are waiting for the official launch of Ripple to the general public.
Ripple and the new RLUSD stablecoin
In April, Ripple first announced its intention to issue its own stablecoin, the value of which will be comparable to the US dollar. The company’s initial goal was to compete with market leaders like USDT and USDC by offering an innovative cryptographic solution.
Now, several months later, the new RLUSD stablecoin is much closer to its launch. Ripple has already conducted initial tests on the Ethereum and XRP Ledger blockchains in preparation for the official distribution on the mainnet. According to the company’s CTO David Schwartz, the stablecoin is expected to launch amidst a growing cryptocurrency market by the end of 2024.
Ripple’s Potential in the Stablecoin Sector
The RLUSD stablecoin has the potential to revolutionize the sector with its fiat bridge function and support for real assets. It will allow users to easily switch between fiat and cryptocurrency, making investments more accessible and convenient. This new solution can attract more investors and activate liquidity in the market, which in turn will contribute to the growth of demand for digital assets.
Some facts about the stablecoin market
According to the latest data, the stablecoin market continues to grow despite the fluctuations of the cryptocurrency market. The current capitalization of this segment exceeds $150 billion, and with the emergence of new solutions such as RLUSD, further growth can be expected. Ripple, with its experience and technological developments, promises to contribute to the development and stabilization of this sector.
