Ripple will debut the RLUSD stablecoin on December 17th, Tuesday.
Ripple Payments will start using RLUSD for international payments by early next year.
XRP rose by more than 15% in the past week post NYDFS approval of RLUSD.
American fintech firm Ripple will launch its highly-anticipated stablecoin, RLUSD, on Tuesday. This has created a bullish atmosphere for the XRP token surging more than 15% in the past week and 2.60% in the past 24 hours alone, nearing the $2.50 price level. The upcoming launch of the dollar-pegged stablecoin could drive XRP towards $3 soon.
RLUSD Aims to Dominate Cross-Border Transactions
According to Fortune, Ripple wants to become the leading network for cross-border transactions with the launch of RLUSD. The stablecoin received approval from the New York Department of Financial Services (NYDFS) last week. Initially, the stablecoin will be listed on Uphold, Bitso, MoonPay, Archax, and CoinMENA exchanges with more platforms added in the future.
Read also: Ripple’s $915M XRP Transfer Sparks RLUSD Stablecoin Optimism
Jack McDonald, the senior VP of stablecoins at Ripple, said that stablecoins are a “hybrid situation.” While the…
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