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Millions of RLUSD Ready to Hit the Market After Recent Launch: Details
In a recent tweet, Ripple President Monica Long emphasized the significance of the stablecoin market and its growth, stating that there is a “constantly growing demand for stablecoins that prioritize regulatory compliance, increased diversification, and drive utility.” All of those, she stressed, are offered by the Ripple stablecoin.
The tweet also highlighted that the launch of RLUSD (Ripple USD) marks another big step in bridging the gap between traditional finance and blockchain. This move aims to provide a new benchmark for stablecoins.
RLUSD is a US dollar-pegged stablecoin, which means it is designed to maintain a 1:1 ratio with the value of the US dollar. This stability ensures that investors and users have access to a reliable store of value.
Long emphasized that trust, compliance, and utility are critical elements for stablecoins. She believes that RLUSD has achieved these elements by integrating Ripple’s expertise in cross-border payments with the growing demand for stablecoins.
RLUSD is built upon Ripple’s existing infrastructure, which already serves over 250 financial institutions worldwide, giving it a strong foundation for its growth.
As stated by Long, the launch of RLUSD marks another step towards bridging the gap between traditional finance and blockchain. This move aims to provide a new benchmark for stablecoins in terms of regulatory compliance, increased diversification, and driving utility.
Ripple’s goal is to empower financial institutions with secure, reliable, and compliant solutions that support their efforts in adopting DLT and blockchain technology.
Source: u.today
