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Ripple Stablecoin: President Reveals What’s Behind RLUSD
In a recent statement, the President of Ripple, the company behind the XRP token, revealed some insightful information regarding their newly launched stablecoin, RLUSD. According to him, the stablecoin will not be available at a fixed price of $1, as it would require significant reserves.
As part of its launch, Ripple has committed to monthly attestations of the stablecoin’s reserves through independent third-party audits. This move aims to provide transparency and trustworthiness in the cryptocurrency market.
The Ripple President also highlighted that RLUSD will be available on a wide range of platforms, including Uphold, Bitso, MoonPay, Archax, and CoinMENA, with additional listings planned for Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash.
It is crucial to note that RLUSD is licensed by the New York Department of Financial Services (NYDFS), which means it must adhere to strict standards. This license ensures that Ripple Stablecoin meets all regulatory requirements and maintains a high level of credibility within the financial sector.
In conclusion, this new development in the stablecoin space has significant implications for the cryptocurrency market.
Source: u.today
