Ripple has unveiled a new webpage dedicated to its upcoming stablecoin, RLUSD, as the wait for the XRP Ledger-based coin mounts.
XRP community figure WrathofKahneman (WoK) first called public attention to the update from Ripple in a post on X. The development is part of the ongoing efforts to introduce RLUSD into the crypto market before 2024 ends.
Ripple RLUSD Stablecoin
Notably, on the dedicated RLUSD stablecoin page, Ripple described RLUSD as a tool for transacting with confidence. Its core features include instant payouts and seamless fiat-to-stablecoin on/off ramps accessible worldwide.
Furthermore, the webpage explains that market participants can buy, hold, and trade USD on-chain using RLUSD, as it is a stablecoin designed explicitly for payments.
RLUSD will maintain a constant value of one US dollar and be issued on both the XRP Ledger and Ethereum blockchains. Notably, Ripple USD will get its backing from a segregated reserve of cash and cash equivalents to ensure that it can be redeemed 1:1 for US dollars.
Ripple has also emphasized that the availability of RLUSD will be contingent upon obtaining necessary regulatory approvals. As a result, the firm highlighted that businesses will be able to access global liquidity and expand into new markets with RLUSD, a regulatory-compliant stablecoin.
Additionally, Ripple noted that RLUSD offers deep liquidity for major trading pairs on select exchanges, providing a robust trading environment. Moreover, users will benefit from instant settlement. They will be able to send RLUSD worldwide in near real-time with minimal fees without traditional bank accounts.
XRP Army Reacts
The latest update from Ripple has sparked a lively reaction from the XRP Army. With RLUSD set to launch on both the XRPL and Ethereum blockchains, XRPL validator Vet wondered which other blockchain might be integrated in the future to issue RLUSD natively.
WoK responded, echoing Vet’s curiosity. He pondered how much the chain’s regulatory status would influence the decision.
Also, he jokingly shared his guess, hoping it would not be Tron, one of the largest networks for stablecoins. Meanwhile, he noted that Solana seems a popular choice among enthusiasts for stablecoin transactions.
Another commenter predicted that Tether (USDT) would crash once RLUSD becomes an actively traded pair on multiple exchanges. WoK agreed that USDT’s value would likely diminish, as RLUSD’s significant advantage lies in its robust compliance features.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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