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Ripple’s RLUSD Records Major Changes in One Day: Details
In a recent move that is expected to revolutionize the blockchain payments scene, Ripple Labs has announced the launch of its own stablecoin, RLUSD. According to sources close to the matter, RLUSD will serve as a liquidity layer for XRP, allowing both assets to find better adoption on Automated Market Maker (AMM) protocols running on the XRP Ledger.
In an exclusive interview with U.Today, Ripple’s Chief Technology Officer (CTO), David Schwartz, shed light on the motivations behind this significant move. According to Schwartz, RLUSD was designed to provide a reliable and decentralized means of payment, which is expected to be more cost-effective compared to traditional systems.
RLUSD will also enable seamless transactions across various platforms, further solidifying Ripple’s position as a major player in the cryptocurrency market. In an effort to compete with dominant stablecoin players like Tether (USDT) and Circle (USDC), RLUSD is poised to disrupt the existing crypto landscape by offering a new and innovative solution for traders and investors.
In addition, Ripple Labs hopes to dominate the blockchain payments scene with its RLUSD stablecoin, setting the pace for the cryptocurrency market.
Source: u.today
