As a seasoned crypto investor with a decade of experience under my belt, I’ve witnessed the rise and fall of countless digital assets. The latest development from Ripple, their upcoming stablecoin RLUSD, has certainly piqued my interest.
Based in San Francisco, Ripple, the company, is moving nearer to the unveiling of their stablecoin, named Ripple USD (RLUSD). They’ve introduced a dedicated webpage for this highly anticipated initiative.
Ripple positions its stablecoin initiative as a solution for swift, global money transfers and financial transactions.
According to U.Today, Ripple first introduced its dollar-backed stablecoin in April, emphasizing that the project would prioritize regulatory compliance.
At the XRP Ledger Community Summit held in Amsterdam in June, Ripple officially revealed the long-awaited name for their new stablecoin.
By May, Monica Long, Ripple’s president, forecasted that we might expect the launch of their stablecoin project around the year 2024.
Initially, our stablecoin will be available on both the XRP Ledger and Ethereum network. The company suggests that additional blockchains may potentially support it down the line as well.
As per the XRP Ledger dUNL operator Vet’s perspective, Ripple might find Solana an obvious choice when launching its own stablecoin due to challenges faced by Cardano with stablecoins and Circle’s unwillingness to issue one there, as he pointed out in a recent social media post.
In a market teeming with established players such as Tether’s USDT and Circle’s USDC, Ripple’s stablecoin will find itself going head-to-head with these giants.
As reported by U.Today, Garlinghouse also recently took aim at leading stablecoin.
Following a bit of resistance from Ardoino, Garlinghouse decided against an argument, asserting that his actions were not meant to target Tether.
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2024-08-04 12:58