- Ripple USD launched on major exchanges, and listings will be expanding soon.
- RLUSD bridges blockchain efficiency with fiat stability.
- Ripple prioritizes compliance and trust to redefine stablecoin benchmarks.
Ripple’s newly launched stablecoin went live on December 17 across major crypto exchanges, ushering in a new era of compliance, trust, and utility. RLUSD bridges the gap between blockchain efficiency and fiat stability to facilitate instant global payments. With increasing scrutiny on market leader Tether, Ripple is positioning RLUSD as a trusted alternative.
Read also: Ripple’s RLUSD Stablecoin Set to Go Live Despite the SEC’s Allegations
Ripple, in its announcement post, stated that RLUSD will debut on Uphold, Bitso, MoonPay, Archax, and CoinMENA with plans to expand to other exchanges like Bullish, Bitstamp, and Mercado Bitcoin. The enterprise-grade stablecoin enables 24/7 transactions, providing secure and compliant on/off ramps for global crypto users.
In a December 17 post, Monica Long, Ripple President, highlighted RLUSD’s focus on transparency, scalability, and real-world utility during its launch. Unlike Tether, which faces regulatory scrutiny and recently abandoned its euro-pegged stablecoin, RLUSD offers a compliant alternative designed to meet market needs. Long stated, “RLUSD is a product of Ripple’s commitment to addressing the pain points of the stablecoin market; trust, compliance, and functionality.”
Stablecoins Gaining Traction
As digital assets see renewed interest, the stablecoin market has significantly expanded to a valuation of $200 billion. These cryptocurrencies are pegged to fiat currencies for price stability and have gained popularity as liquidity tools for crypto trading.
Plus, their potential for cheaper and faster settlements using blockchain technology has made them attractive for everyday payments and remittances rather than traditional banking systems. While U.S. dollar stablecoins currently dominate the market with a 99% share, their euro counterparts have seen slower adoption, with a market value of $400 million.
Ripple’s Strategy
In this context, Ripple aims to capitalize on the growing demand for stablecoins by providing a regulatory-compliant asset that bridges crypto and traditional finance. RLUSD’s structure aligns with Ripple’s broader vision of increasing blockchain adoption for everyday financial transactions.
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