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Ripple: ready for launch of RLUSD stablecoin, expected today
By Daniele Corno
Expected today is the launch of RLUSD, RIPPLE's proprietary stablecoin. Here's what you need to know ahead of the launch
RLUSD close to launch
Ripple is set to launch RLUSD, its dollar-pegged stablecoin,expected today, Dec. 4, 2024. However, the company still awaitsfinal approval from the New York Department of Financial Services (NYDFS), a crucial regulatory step. RLUSD will be available on XRP Ledger (XRPL) and Ethereum, with plans to expand to other blockchains and DeFi protocols .
RLUSD is a 1:1 guaranteed stablecoin from U.S. dollars and short-term instruments such as Treasury Bonds. Ripple will use it together with XRP to streamline cross-border payments, offering institutions a more stable and transparent platform.
The company warned users to beware of fake tokens before the official launch, although RLUSD is already prelisted on CoinGecko and CoinMarketCap, with attached Contract Addresses: rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De on XRPL and 0xcfd748b9de538c9f5b1805e8db9e1d4671f7f2ec on ETH.
XRP, meanwhile, continues to attract attention: with over $3 billion in spot volume on Binance, it is the second most traded cryptocurrency today, after Bitcoin. This reflects the growing interest in Ripple, which we have discussed in depth in our TELEGRAM channel .
RLUSD and the future of Ripple
CEO Brad Garlinghouse said that RLUSD will meet the needs of large institutions, ensuring compliance and security. The stablecoin will work in synergy with XRP, ensuring liquidity and contributing to price stability.
The anticipation for RLUSD has sparked reactions in the industry: Justin Sun, founder of TRON, tweeted “When RLUSD on TRON?” while TRX marks a new all-time high after seven years.
— H.E. Justin Sun 🍌 (@justinsuntron) December 4, 2024
The price of TRX in fact, rose from a low yesterday at $0.22 to a high of $0.44, covering the11th position by market cap.
The debut of RLUSD is an important step for Ripple, strengthening its position in cross-border payments and opening up new opportunities for the entire ecosystem. We just have to wait for the official announcement to find out the impact of this new stablecoin.
