Ripple is about to make a major move with the launch of Ripple USD (RLUSD) tomorrow, December 17, 2024, and it’s poised to disrupt the stablecoin market. Unlike Tether, RLUSD will be fully backed by USD deposits and government bonds, with monthly audits ensuring transparency and trust.
Each RLUSD token is tied directly to U.S. dollar deposits, government bonds, and cash equivalents, making it a secure and stable choice for users. It’s also issued under the strict oversight of the New York Department of Financial Services (NYDFS), a globally recognized regulatory body.
RLUSD will debut on major exchanges like Uphold, Bitso, and MoonPay, with more platforms set to follow. The coin will operate across both the XRP Ledger and Ethereum blockchains, bringing flexibility and scalability to a range of financial applications.
The announcement has already boosted Ripple’s XRP token, which surged by 8%, reaching $2.52. Ripple’s partnerships with top exchanges and payment providers are key to expanding the coin’s global reach, from the Americas to the Middle East.
Ripple’s strategic plans also include integrating RLUSD into its global payment network, which has already processed over $70 billion across 90+ markets. This will only increase the utility of RLUSD in cross-border payments, DeFi protocols, and more.
With its robust backing and regulatory compliance, RLUSD is positioning itself to be a game-changer in the stablecoin world, offering reliability and liquidity for users in an increasingly digital financial ecosystem.
Sources:
https://cryptobriefing.com/ripple-rlusd-stablecoin-go-live/
https://ripple.com/ripple-press/raising-the-standard-for-stablecoins-ripple-usd-launches-globally/
https://cryptoslate.com/ripple-to-begin-global-rollout-of-rlusd-stablecoin-on-dec-17/
https://www.aol.com/finance/ripple-announces-launch-rlusd-stablecoin-160000988.html