Ripple Labs’ Chief Technology Officer (CTO) David Schwartz made detailed statements about the company’s new stablecoin, RLUSD. RLUSD stands out as a stablecoin developed on the XRP Ledger (XRPL) infrastructure and launched this week. Schwartz stated that this product was designed to showcase the potential of XRPL and provide users with a reliable asset.
Schwartz said that RLUSD offers many direct and indirect advantages and makes great contributions to the XRPL ecosystem. He noted that XRP increases transaction volume by being used as a bridge asset within the system. He also stated that this stablecoin can further improve the accessibility of Decentralized Exchanges (DEX) on XRPL. He argued that XRP and RLUSD will create a holistic structure in the ecosystem thanks to their complementary features.
Ripple announced that RLUSD was initially traded on international exchanges such as Uphold and Bitso, but the stablecoin was largely pegged to the US Dollar at a 1:1 ratio. It was stated that the supply level of RLUSD reached approximately $19.1 million with whale activity after the launch.
David Schwartz also highlighted the role of RLUSD in the tokenization market of Real World Assets (RWA). He stated that RWA will see significant growth in the coming years and that the potential of RLUSD will become clearer as stablecoin demand increases. He said that the fast and low-cost structure of XRP Ledger supports the development of such tokens.
Ripple’s RLUSD stablecoin aims to increase functionality, reduce transaction costs, and reach a wider user base, especially for XRPL developers. This innovative product breathes fresh air into the Ripple ecosystem by encouraging the growth of XRPL-based applications.