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Ripple Unveils Plan for Global Rollout of RLUSD Stablecoin on December 17
In a surprise move, Ripple has announced that it will begin the global rollout of its RLUSD stablecoin on December 17, despite the market’s recent volatility and the ongoing uncertainty surrounding the US Federal Reserve’s next rate decision.
The news comes as investors await the outcome of the Fed’s meeting later this week, with expectations of a 25 basis points rate cut rising to 98%. The potential move has sparked a surge in demand for risk-off assets such as gold and the Japanese yen, but also has led to increased speculation about Bitcoin’s potential price action.
The RLUSD stablecoin, pegged to the US dollar, is designed to provide liquidity to financial institutions and other financial actors. According to sources close to the matter, Ripple plans to launch the new asset in phases, starting with a pilot program for select partners before expanding globally.
As part of the rollout, Ripple will also be releasing a series of educational materials and webinars aimed at educating users about the potential benefits of RLUSD, including its ability to stabilize digital assets and facilitate international transactions.
The move comes as Ripple’s CEO Brad Garlinghouse continues to emphasize the company’s commitment to providing financial services to the world’s unbanked population. In a recent interview, he emphasized that “RLUSD is an important step forward in our mission to make financial inclusion a reality by 2025.”
In a statement released earlier today, Garlinghouse praised the RLUSD team for their tireless efforts and called on the global community to join them in this exciting new chapter.
“We are thrilled to announce that RLUSD will be available globally starting December 17,” said Brad Garlinghouse. “This is a major milestone in our history as a company and we’re grateful for your continued support.”
As investors await further news from Ripple, Bitcoin has seen a brief recovery above the $100k price level.
Source: cryptoslate.com
