Ripple Launches Website for RLUSD Stablecoin
The post Ripple Launches Website for RLUSD Stablecoin appeared on BitcoinEthereumNews.com.
In what is coming as a shock to community members, blockchain payments firm Ripple Labs Inc. has launched the webpage for its stablecoin RLUSD. While this might seem a long-due move from the company, it underscores the behind-the-scenes effort it is making toward launching the new token. Ripple Stablecoin To Compete With Rivals As a payment firm, launching a stablecoin pegged to the US dollar seems like the right move for Ripple. With an extensive cross-border settlement network, the stablecoin will enhance its business operation. It is likely to leverage Ripple’s existing successful network including the XRP Ledger, its popular Layer 1 protocol. With the Ripple stablecoin, the blockchain payments firm can compete directly with two of the biggest names in the stablecoin industry; Tether and Circle. Specifically, RLUSD would have to push for a share of the market that Tether (USDT) and USD Coin (USDC) already occupies. Despite changing cryptocurrency regulatory landscape, the company is optimistic its stablecoin will find its space in the market. After consistently hinting at the possibility of having a Ripple stablecoin, Brad Garlinghouse, the platform’s CEO unveiled the “RLUSD” during the XRP Ledger Community Summit (XRPL Apex) in Amsterdam. At the time, the date for the launch of the United States dollar-backed stablecoin stayed undisclosed but this did not drain the community of their excitement. Despite the recent launch of the RLUSD webpage, the timeline for the stablecoin launch remains unknown. Settlement in Ripple Vs SEC Lawsuit Noteworthy, Ripple is making effort with RLUSD while also seeking headway in the XRP lawsuit with the US Securities and Exchange Commission (SEC). For the last few days, several rumors have made the rounds about the possibility of a settlement between the firm and the regulator. Also, market observers are discussing the possible timeline for this decision.…
Filed under: News - @ August 5, 2024 12:08 am