Ripple Receives Approval to Trade RLUSD Stablecoin
Date: 2024-12-11 Author: Gabriel Deangelo Categories: BUSINESS
Ripple Receives Approval to Trade RLUSD Stablecoin
The New York Department of Financial Services has officially approved the launch of Ripple's RLUSD stablecoin for trading. This was announced by the company's CEO Brad Garlinghouse, noting that listing on partner exchanges will begin in the near future.
Garlinghouse announced that RLUSD will appear on such platforms as Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA and Bullish. The liquidity of the new stablecoin will be supported by market makers B2C2 and Keyrock.
Testing of RLUSD began in April 2024. According to Garlinghouse, this stablecoin is designed for a wide range of applications - from payments to tokenized real-world assets (RWA) and decentralized finance (DeFi). He emphasized that RLUSD will become the "gold standard" for the corporate sector.
Despite the launch of RLUSD, Ripple will continue to actively use XRP. Both cryptocurrencies are planned to be used for international payments, providing various use cases.
Amid the news, the price of XRP showed significant growth, recovering from a two-day decline. Within a few hours, the token’s value increased by more than 10%.
