Stablecoin RLUSD Only Open to Institutions in Early Stage

Bittime - Ripple will soon launch a new stablecoin called RLUSD. However, according to Ripple's CTO, in the initial stages the RLUSD stablecoin will only be available for financial institutions, not for individual users.

Early Trial Phase of Stablecoin RLUSD

Stablecoins RLUSD is currently in a very limited closed testing phase. In the next few weeks, this stablecoin is expected to be officially launched after going through various testing processes. 

Ripple's CTO emphasized that outside of this testing phase, it is highly unlikely that individual users will be able to use the RLUSD stablecoin to transfer or store value.

Read Also: Ripple to Launch Stablecoin RLUSD in a Few Weeks

Stablecoin RLUSD is for Institutions Only

Ripple's decision to limit its RLUSD stablecoin to institutions only in its early stages prompted questions. One of the main concerns is how this could impact the liquidity and adoption of these stablecoins. 

However, Ripple's CTO has clarified that these restrictions are in place to prevent market manipulation and money laundering, two big problems that other stablecoin projects often face.

These initial restrictions on the RLUSD stablecoin are in line with the policies implemented by other stablecoins such as USDC and USDT, where individual users were also unable to directly access the token in some early development stages.

Comparison of Stablecoin RLUSD with Other Stablecoin 

Ripple will not just release the RLUSD stablecoin without considering the important aspects that exist in the stablecoin market. Ripple CTO compares RLUSD to other stablecoins.

One of the fundamental differences between RLUSD and other stablecoins is Ripple's strong focus on security and market integrity.

By limiting access to only institutions at the start of launch, Ripple hopes that stability and trust in RLUSD can be established before it opens to the wider public.

Read Also: Ripple's RLUSD Stablecoin: Everything You Need to Know

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