Ripple's New Stablecoin: RLUSD Set to Launch on XRP Ledger and Ethereum Blockchain
Ripple is set to launch RLUSD, a new stablecoin pegged 1:1 to the US dollar, on both the XRP Ledger and Ethereum blockchain. Backed by USD, short-term US Government bonds, and cash equivalent assets, RLUSD aims to enhance support for DeFi applications. Ripple's adoption of Axelar's interoperability platform for its XRPL EVM sidechain underscores its commitment to seamless integration and security. Despite regulatory hurdles from the SEC, Ripple continues to advance its stablecoin initiatives, positioning RLUSD as a reliable digital asset option for investors.
2024-06-24Read