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Ripple’s RLUSD Records Major Changes in One Day: Details
Ripple Labs has made significant progress with the launch of its new stablecoin, RLUSD. In a shocking turn of events, the company revealed that the RLUSD will be significantly more expensive than previously anticipated.
According to Ripple executives, the RLUSD is poised to usher in a new era for assets like XRP. By serving as a liquidity layer for XRP, both assets will gain better adoption on AMM protocols running on the XRP Ledger.
This move by Ripple Labs is seen as an ambitious effort to dominate the blockchain payments scene and compete with dominant rivals such as Tether (USDT) and Circle (USDC). The RLUSD will act in a complementary manner alongside XRP, setting the stage for a more intense competition in the stablecoin market.
However, the sudden change in plans has raised eyebrows among investors. According to Ripple CTO Gamza Khanzadaev, there are valid reasons behind this unexpected development.
“The high demand we’ve seen for RLUSD has led us to reassess our initial pricing strategy,” said Khanzadaev. “The new RLUSD will cost more than $1 as a result of these extraordinary circumstances.”
This shift in plans could have significant implications on the XRP Ledger, as it will likely attract even more users and liquidity providers.
As Ripple Labs continues its pursuit of market dominance, investors are keen to know what this move means for their investments.
Source: u.today
