[Ripple CEO calls the U.S. dollar a “very popular version of stablecoin”]
The official X account of crypto giant Ripple recently released a short video titled "Learn about Cryptocurrency in One Minute." In the video, company CEO Monica Long explains the concept of stablecoins to the crypto community. The release of the footage comes as Ripple announced the start of closed testing for its stablecoin Ripple USD (RLUSD).
When talking about stablecoins, Monica Long said that stablecoins are tokens on the blockchain that represent a currency in the real world, and there is a one-to-one peg between the stablecoin and the currency it supports. In the video, she mentions the U.S. dollar as a “very popular version of a stablecoin.”
Earlier this week, Ripple announced the beta version of RLUSD. As part of the test, the stablecoin is not yet available for purchase and sale. The test will be participated by some of Ripple’s corporate partners. Pending Ripple receiving final approval from regulators, the stablecoin will not only run on XRP Ledger and Ethereum, but will also be launched on other blockchains.
