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The Wait is Over: Ripple’s RLUSD Stablecoin Set to Launch Tomorrow
Ripple has finally announced the launch of its new stablecoin, RLUSD, which is set to go live tomorrow. This move marks a significant milestone for the company as it enters the highly competitive $203 billion stablecoin market.
According to the official announcement, RLUSD will be available for trading on both Ethereum blockchain and XRP Ledger. The initial listing will take place on select global exchanges with plans for further expansion in the future. However, it’s worth noting that RLUSD will not be available on Coinbase at launch.
Ripple made this monumental decision after receiving approval from the New York State Department of Financial Services (NYDFS) earlier this month. It is interesting to note that Ripple’s senior vice president of stablecoins, Jack McDonald, has hinted that the company’s desire to launch its own native stablecoin was largely driven by the remarkable growth they’ve witnessed in cross-border payments.
RLUSD, which is pegged to the US dollar, aims to offer a cost-effective and operationally efficient solution for Ripple Payments’ growing global transactions.
Source: coinpedia.org
