CandleFocus RLUSD Stablecoin Goes Live: Price Fluctuates 20% Before Stabilizing
2024-12-17
Author: Content Editor
The cryptocurrency Ripple USD (RLUSD) has been launched on global exchanges. RLUSD is a stablecoin that combines the stability of fiat currencies with the efficiency of blockchain technology. It operates on both the Ethereum and Ripple networks. Initially, the price of RLUSD fluctuated within a 20% range, but it is pegged to the US dollar at a 1:1 ratio for long-term stability. Ripple CTO David Schwartz expects the price to quickly return to around $1 once supply shortages are resolved. RLUSD is available on exchanges such as Uphold, Bitso, and CoinMana, with more expected by the end of the year. It is backed by US dollar deposits, government bonds, and cash equivalents, providing transparency and stability. RLUSD aims to bridge the gap between traditional fiat and crypto, offering benefits such as instant cross-border payments and integration with decentralized finance protocols. With major partners and exchanges expected to adopt it, RLUSD has the potential to challenge dominant stablecoins like Tether and USDC.
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