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Ripple Strengthens Its Position in Stablecoin Ecosystem as US Dollar-Backed Cryptocurrency RLUSD Launches
In a move to strengthen its position within the stablecoin ecosystem, Ripple has launched its own U.S.-regulated alternative to Tether’s $130 billion USDT. The new cryptocurrency, called RLUSD, will provide a regulated and secure option for users seeking a U.S.-backed stablecoin.
The launch comes as the market is increasingly competitive, with companies like PayPal also developing their own stablecoins to capitalize on this lucrative sector. The move is significant, as Ripple’s XRP has been under scrutiny by regulatory bodies, including the Securities and Exchange Commission (SEC).
Source: u.today
