Ripple has made it official—everyone can now use its RLUSD stablecoin starting today, December 17, 2024. Given Ripple’s deep expertise in global payments, this addition will contribute to bolstering the XRP Ledger and further developing Ripple’s growing financial ecosystem.
Ripple’s President, Monica Long, shared her insights on the launch, stating: “The world of stablecoins is becoming more and more crowded, and this stablecoin combines Ripple’s 10+ years of experience and strong compliance with support from a trusted advisory board.
Ripple envisions stablecoin as a reliable digital payment solution that is suitable for both enterprises and individual users.
Approval from Regulators and Launch of Exchanges
RLUSD is bolstered by an approval issued under the New York State Department of Financial Services’ (NYDFS) limited-purpose trust company charter earlier this week. This adds to this very important regulatory milestone and highlights Ripple’s dedication to providing a compliant and secure product.
The new stablecoin буде was initially supported on leading platforms such as Uphold, MoonPay, CoinMENA, Archax, and Bitso. Other exchanges—including Bullish, Mercado Bitcoin, Zero Hash, Independent Reserve, and Bitstamp—have also confirmed they will support RLUSD soon, Ripple confirmed.
Ripple’s CEO Brad Garlinghouse also highlighted accessibility as an important factor, noting that RLUSD will be “an enterprise-grade stablecoin for everyone.”
When to Expect Launch Timeline
Ripple has an official RLUSD launch date of December 17, but the exact time of the release is unconfirmed. The stablecoin could potentially be live on the 8:00 AM EST beat, according to rumours on social media, prior to the regular market opening.
Ripple has yet to confirm this timeline officially. As such, users are advised to hold off on taking action until verified updates are provided.
Positive Sentiment Underpins XRP Price
Ripple’s native cryptocurrency, XRP, has been immediately affected by the RLUSD launch announcement. The announcement reportedly lifted XRP’s price, showing revived positive sentiment in the market.
While some traders took a few short-term profits, the sentiment remains positive. Ripple’s capability to land regulatory approval despite major projects has fueled confidence and promise for XRP.
Its price surge follows a broader uptrend for top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and BNB, all of which have posted consistent gains. Unlike the other two, however, XRP’s bullish momentum has been specifically tied to the launch of RLUSD.
Why RLUSD Matters
This is the first thing that you have learned: RLUSD is a stablecoin elegantly covered 1:1 by cash over cash, cash equivalents. The RLUSD’s infrastructure enables it to achieve a competitive edge due to Ripple’s extensive payment network and its partnerships with major platforms.
The new stablecoin launch aims to meet the practical financial demands of businesses and retail users, acting as a reliable asset for payments, settlements, and liquidity management.
Monica Long said RLUSD’s purpose aligns with Ripple’s mission to provide “secure, trusted solutions that solve current challenges facing financial systems.”
What’s Next for Ripple?
With the launch of RLUSD today, all eyes are on the acceptance of RLUSD on international exchanges along with its larger effects on Ripple’s ecosystem. Staticcoin is set to capture institutional users and retail users once regulatory approval and solid platform support are obtained.
For XRP holders, RLUSD’s launch marks one more step that may generate long-term upside as Ripple cements its presence in the digital payments market.
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FAQs
1. What is RLUSD stablecoin by Ripple, and what makes it differ from other stablecoins?
RLUSD is the stablecoin based on Ripple’s latest, 1:1-backed cash and cash equivalent. RippleNet aims to deliver robust and stable transactions by utilizing Ripple’s extensive experience in cross-border payments and compliance efforts.
2. How soon will Ripple’s RLUSD stablecoin be tradeable?
Officially launching on 17th December 2024, Ripple’s RLUSD stablecoin. Although the exact release time hasn’t been confirmed, many speculate that it could be available at roughly 8:00 AM EST.
3. What platforms will launch with Ripple’s RLUSD stablecoin integration?
Within the first 24 hours of launch, RLUSD will be live on exchanges such as Uphold, MoonPay, CoinMENA, Archax, and Bitso, as well as on other exchanges (coming soon), including Bullish, Mercado Bitcoin, Zero Hash, Bitstamp, and Independent Reserve.
4. What are the implications of RLUSD for Ripple’s XRP ecosystem?
This RLUSD release strengthens Ripple’s payment infrastructure and can lead to more massive use and utility of XRP. Optimism around the stablecoin could also fuel XRP’s long-term expansion in the digital payments sector.
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