Ripple Introduces RLUSD Stablecoin, Focuses on Regulatory Compliance and Market Growth
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Title: Ripple’s Stablecoin RLUSD Sees Significant Transfer and Launches with Regulatory Compliance in Focus
Ripple has made significant moves in the stablecoin market, transferring over 10.3 million RLUSD and highlighting its focus on regulatory compliance.
According to data from the Ripple Stablecoin Tracker, more than 10.3 million RLUSD were transferred in batches. Interestingly, a substantial portion of this amount – 1.5 million – was sent from the Ripple Treasury to Lithuania-based crypto exchange Uphold.
In an interview, Ripple President Monica Long spoke about the recent launch of RLUSD and its potential for growth. She emphasized that the stablecoin market has reached a valuation of approximately $160 billion, with predictions suggesting it could reach $3 trillion within four years.
Long expressed her belief in the increasing demand for stablecoins focusing on regulatory compliance, diversification, and utility, which RLUSD aims to provide. In essence, she stressed the importance of “bridging the gap between traditional finance and blockchain” – an initiative that Ripple is actively pursuing with its new stablecoin.
The launch of RLUSD marks another significant step forward in this endeavor for Ripple.
Source: u.today
