CandleFocus Ripple's RLUSD Stablecoin Is Operationally Ready
2024-11-15
Author: Content Editor
Ripple President Monica Long has announced that Ripple will be launching RLUSD, a stablecoin that will complement its existing cryptocurrency XRP. RLUSD will provide more stability for users who want to avoid the volatility of the cryptocurrency market and allow them to store or trade tokenized USD on the blockchain. Long also believes that RLUSD will attract developers who can utilize it in decentralized finance (DeFi) applications. Ripple plans to offer RLUSD through its New York-based Standard Custody license, ensuring regulatory transparency. However, regulatory approval is still pending before the stablecoin can be launched.
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