ADVERTISEMENT
Advertise with BNC

Ripple Labs Not Yet Launching Ripple USD (RLUSD)

Ripple Labs Not Yet Launching Ripple USD (RLUSD)

Ripple Labs is preparing to launch its U.S. dollar-pegged stablecoin, Ripple USD (RLUSD) following anticipated approval from the New York Department of Financial Services (NYDFS). RLUSD is designed as a 1:1 USD-backed stablecoin, fully collateralized by U.S. dollar deposits, short-term U.S. Treasury bills, and other cash equivalents.

Initially, it will operate on Ripple’s XRP Ledger (XRPL) and the Ethereum blockchain, with plans to expand to additional blockchains and decentralized finance (DeFi) protocols over time.

The introduction of RLUSD represents a significant move for Ripple, especially in light of its ongoing legal challenges with the U.S. Securities and Exchange Commission (SEC) regarding the classification of its native token, XRP. By launching a regulated stablecoin, Ripple aims to provide a stable digital asset for payments and other financial applications, potentially enhancing its cross-border payment solutions.

The announcement, earlier this year, Source: X

Ripple has established partnerships with several major cryptocurrency exchanges and platforms, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish, to facilitate the global distribution of RLUSD. These collaborations are intended to ensure widespread accessibility and liquidity for the stablecoin upon its release.

Source: X

Once RLUSD is available, Ripple plans to integrate it alongside XRP in its cross-border payment solutions to serve its global clientele. This dual-asset approach is expected to enhance transaction speed, cost efficiency, and reliability, further solidifying Ripple’s position in the financial technology sector.

The launch of RLUSD marks a pivotal development for Ripple, reflecting its strategic efforts to diversify its offerings and navigate the evolving regulatory landscape of digital assets. By introducing a regulated stablecoin, Ripple aims to bolster its financial infrastructure and broaden financial inclusion, aligning with its l transforming global payments.

Huge Q4 for XRP and Ripple

XRP has had a massive quarter, with a huge price run as the Trump Pump clears the way for XRP to reach its full pierce potential. An XRP ETF is on the way, and Google Searches for XRP are above Bitcoin.

XRP has rocketed up the BNC Market Cap Table. 


Maximize Your 2025 Crypto-Media Reach!

BNC AdvertisingBrave New Coin reaches 500,000+ engaged crypto enthusiasts a month through our website, podcast, newsletters, and YouTube. Get your brand in front of key decision-makers and early adopters. Don’t wait – Secure your spot and drive real impact in Q1. Find out more today!


ADVERTISEMENT
Advertise with BNC
Recent Posts
ADVERTISEMENT
Advertise with BNC
Top Gainers & Losers
Discover the biggest crypto gainers & losers
ADVERTISEMENT
Advertise with BNC
BNC Newsletters: A weekly digest of the most important news and analysis.
Latest Insights More Insights
ADVERTISEMENT
Advertise with BNC