Ripple to Launch Stablecoin RLUSD in a Few Weeks
2024-09-04
Bittime - Ripple, best known for its XRP token, is preparing to launch its RLUSD stablecoin. This stablecoin will be pegged to the US dollar and is expected to be released in the coming weeks.
Ripple Launches Stablecoin RLUSD
SCurrently, the RLUSD stablecoin is in a closed testing phase and will be launched soon. This stablecoin is designed to complement the Ripple ecosystem, especially in supporting the XRP token.
RLUSD is Ripple's strategy to enter the stablecoin market, which is currently dominated by USDT and USDC. USDT controls about 70% of the total stablecoin supply, while USDC has a share of about 21%.
Read Also: Ripple's RLUSD Stablecoin: Everything You Need to Know
Stablecoin RLUSD Triggered Insiden Decoupling USDC
KRipple's desire to enter the stablecoin market was sparked by the USDC decoupling incident (USDC value fell below $1) that occurred 18 months ago.
Ripple also saw a need for a more stable stablecoin. With Ripple's stability and reputation, RLUSD could be a strong alternative in the stablecoin market.
Ripple and Stablecoin RLUSD Not Interested in IPO in US
MRegarding the possibility of Ripple conducting an Initial Public Offering (IPO) in the US, Brad Garlinghouse, CEO of Ripple, said that Ripple is not interested in going public in the US. The main reason is the “unfriendly” attitude of the SEC towards crypto.
Garlinghouse criticized the SEC for giving Coinbase the green light to go public, but then suing Coinbase over matters it had previously agreed to.
Garlinghouse also advised entrepreneurs who want to start a crypto company not to set up a company in the US. This reflects deep dissatisfaction with crypto regulations in the US, which are considered too strict and unfavorable to innovation.
Read Also: Ripple Fines $125 Million, Lower than SEC Demand
How to Buy Crypto di Bittime
You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
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