As a seasoned researcher with a penchant for the cryptosphere and a particular fondness for Ripple, I find myself eagerly anticipating the launch of their much-awaited stablecoin, Ripple USD (RLUSD). With my fingers poised over the keyboard and eyes glued to the blockchain, I’ve been tracking every twist and turn in this exciting development.
It appears that Ripple, a digital currency payment company based in San Francisco, may be moving forward swiftly with its upcoming stablecoin, Ripple USD (RLUSD). This assumption is made following recent transactions involving the token. Specifically, four million RLUSD were transferred from the treasury to unidentified wallets on the XRP Ledger system.
Even though the identities of the parties involved in the latest RLUSD transfer transactions with Ripple remained undisclosed, the community account XRPWallets managed to uncover the routes for Ripple USD movement. It appears that the exchange happened between Ripple and well-known U.S. cryptocurrency exchanges such as Bitstamp and Kraken.
Approximately a day past, Ripple’s CEO, Brad Garlinghouse, declared that the company had secured final approval from the New York State Department of Financial Services (NYDFS) for RLUSD. As collaborative and exchange listings are set to go live shortly, Garlinghouse encouraged all XRP supporters to keep a lookout, as they will be informed about the launch of RLUSD directly by Ripple.
In simpler terms, the Regional School District (RLUSD) sent 2 million units of cryptocurrency to one address, which was activated by Bitstamp. Another 9 activations were carried out by R9U through Kraken. Notably, the recipient address (RLODN) has a total liquidity (TL) of a staggering 10 quadrillion! This is exciting news as we now have 2 Ripple wallets with such high TLs, strengthening its credibility and potential impact in the crypto world. 🚀🚀🚀🚀
— XRP_Liquidity (Larsen/Britto/Escrow/ODL Tracking) (@XRPwallets) December 12, 2024
When Ripple’s stablecoin (RLUSD) launch?
It’s worth noting that following the given approval, many market players have anticipated the release of Ripple USD today, following the opening of the New York Stock Exchange. There are approximately six more hours left to see if this prediction holds true. However, it’s important to remember that such an outcome is not certain.
The cutoff date for launching stablecoins, traditionally recognized as the end of the year, is fast approaching, with only about two weeks remaining on the calendar. With this amount of time left in 2023, Ripple has a chance to debut its stable token solution before the year 2024 comes to a close.
Looking forward to discovering whether RLUSD can emerge as a significant player alongside USDC and USDT in the rapidly expanding stablecoin market, which is projected to grow to an astounding $2.3 trillion over the next few years, leaving ample room for newcomers like RLUSD.
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2024-12-12 13:54