Ripple Enters the Stablecoin Arena with RLUSD!🥊
Ripple is actively developing a US dollar-backed stablecoin called RLUSD. It's designed to operate on both the XRP Ledger and Ethereum networks. With this latest project, they are hoping to attract new users and liquidity to the XRP Ledger. In addition they will be able to bridge the gap between traditional finance and decentralized finance (DeFi).
So far we don't know the exact launch date however, it's expected to be released in 2024. One thing is for sure, Ripple's entry into the stablecoin market is likely to intensify competition with existing players like Tether (USDT) and Circle (USDC).