RLUSD Stablecoin Launch, Still Waiting for Final Decision!
2024-12-05
Bittime - Ripple is preparing to launch the RLUSD stablecoin, which will be pegged to the US dollar (USD).
However, the launch of the RLUSD stablecoin is still awaiting final approval from the New York State Department of Financial Services (NYDFS). Read this article to find out more!
Stablecoin RLUSD Launch
Ripple confirmed that the launch of its RLUSD stablecoin has not yet taken place as it is working with the NYDFS to complete the final approval stage.
Ripple stated that the launch of this stablecoin will be carried out by prioritizing the highest regulatory standards.
This shows that Ripple focuses not only on technology, but also on regulatory and transparency aspects.
Read Also: Stablecoin Ripple USD (RLUSD): Definition and Functions
RLUSD Stablecoin Technology
Peluncuran stablecoin RLUSD will be carried on two blockchain platforms, namely XRP Ledger (XRPL) and Ethereum so that users can access this stablecoin in different blockchain ecosystems.
This stablecoin is designed with 1:1 full collateral against US dollar deposits, short-term government securities, and other cash equivalent assets.
This structure is designed to ensure price stability of the RLUSD stablecoin, thereby providing more confidence to users, especially institutional investors.
Combination of Stablecoin RLUSD and XRP
Ripple also plans to utilize stablecoins RLUSD and XRP for cross-border payment solutions.
These two assets are designed to complement each other, with XRP providing liquidity and RLUSD offering price stability.
This combination allows Ripple to provide more efficient and stable payment solutions for global customers.
Stablecoin RLUSD Focus on Institutional
Ripple CEO Brad Garlinghouse has emphasized that the RLUSD stablecoin was designed with institutional investors in mind.
This stablecoin is expected to fill the gap in the market by providing a more credible and regulatory compliant solution.
Garlinghouse also mentioned that Ripple has used stablecoins in their payment flows before, indicating that the RLUSD stablecoin is a move to strengthen Ripple's position in the market.
Read Also: When Will Ripple's RLUSD Launch? This is the leaked information
RLUSD Stablecoin FAQs
What is RLUSD Stablecoin and its Functions?
Stablecoin RLUSD is a stablecoin developed by Ripple with a value pegged 1:1 to the US dollar. This stablecoin functions for price stability, cross-border payments and transactions on the XRP Ledger and Ethereum blockchain ecosystems.
What are the advantages of the RLUSD stablecoin compared to other stablecoins?
Stablecoin RLUSD offers full collateral with reserves in the form of US dollar deposits, short-term government securities, and cash equivalent assets.
When will RLUSD Launch?
The launch of the RLUSD stablecoin was initially expected on December 4, 2024, but was postponed indefinitely. Ripple also warned to be careful of tokens claiming to be RLUSD before the official announcement was made.
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Reference
Bitcoin.com News, Ripple's Stablecoin Near Launch: Final Regulatory Nod Expected Soon, accessible on December 5, 2024.
Helen Partz, Ripple’s RLUSD stablecoin: Here’s what you need to know before launch, accessed December 5, 2024.
Author: IPR
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