“Breakthrough: RLUSD officially approved – XRP ready for the next big leap!”
Ripple has received approval from the New York State Department of Financial Services (NYDFS) to launch the Ripple-USD stablecoin (RLUSD). This stablecoin, pegged to the US dollar, represents a significant innovation as it operates on both the XRP Ledger and the Ethereum network. This duality could greatly increase the acceptance of Ripple technologies and elevate XRP to a new level.
What does RLUSD mean for the crypto market?
RLUSD offers users a stable currency for fast, cost-effective transactions and opens new opportunities for Ripple in payment processing. In particular, banks and large institutions could increasingly turn to XRP and the Ripple ecosystem through the stablecoin, as the stability of RLUSD facilitates transactions while increasing speed.
XRP is gaining significant momentum
With the introduction of the stablecoin, new liquidity streams for XRP could emerge. Industry experts agree that this will positively impact the price of XRP in the long term. Thanks to regulatory support from the NYDFS and the integration of RLUSD into existing Ripple services, XRP seems well-positioned to play a crucial role in the global financial system.
The connection of RLUSD with XRP
Ripple emphasizes that the focus remains on XRP, which continues to be the backbone of the company. RLUSD complements the ecosystem by stabilizing cross-border payments and facilitating the use of XRP as a bridge currency. In conjunction with the collaboration between Ripple and Swift, as well as stronger regulatory tailwinds, enormous opportunities could arise.
The next steps
RLUSD is just the beginning: Ripple is working to integrate the stablecoin into existing networks like FedNow and make it attractive for banks worldwide. At the same time, XRP could reach a price target of over 5 to 10 USD in the near future due to increasing interest from institutional investors.
Ripple has managed to combine regulatory support, technical innovation, and market needs. The launch of RLUSD demonstrates that XRP is not just a cryptocurrency, but a solution to global financial problems.
Follow us for more exciting crypto news and insights!
Source: https://tradersunion.com/de/news/cryptocurrency-news/show/29360-nydfs-greenlights-rlusd/