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Ripple's announcement: all set for RLUSD stablecoin
By Davide Grammatica
RLUSD stablecoin will be launched in the coming hours: this was announced by Ripple, which officially challenges other issuers in the industry
The advent of RLUSD
In the next few hours, on Tuesday , December 17, the stablecoin RLUSD will be launched. This is declared by the issuer Ripple, which keeps its promise (made to the community) to enter the stablecoin world by the end of 2024.
The past few weeks we had already covered the topic, with respect to rumors of an earlier than scheduled launch and later for some concerns about the completion of the project by the end of the year (due to the absence of some partners during the Christmas vacations).
Now, however, it is official: Ripple is challenging the major issuers in the stablecoin sector, making for an increasingly interesting competitiveness despite the unchallenged dominance of Tether. In addition to USDT and USDC, in fact, the sector has also been taken by storm by the likes of Ethena and PayPal.
“RLUSD will be available on exchanges starting tomorrow, “ reads a Ripple X post. “Each RLUSD token is fully backed by U.S. dollar deposits and U.S. government bonds.”
The wait is over: RLUSD launches globally tomorrow!https://t.co/mYcyyX6Vre
— Ripple (@Ripple) December 16, 2024
Ripple welcomes its stablecoin
Last week, Ripple had received final approval for RLUSD from the New York State Department of Financial Services. According to plans, the stable will be integrated into Ripple Payments next year, while it will be available immediately on XRP Ledger and Ethereum.
It will also be leveraged through Uphold, MoonPay, Archax, and CoinMENA. Quotes will be on cex such as Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve and Zero Hash, with plans to expand to additional exchanges soon.
Expansion to other blockchains, however, will be addressed at a later date.
