6$XRP questions and answers about RLUSD, Ripple's new cryptocurrency

1. What is RLUSD?

RLUSD is a stablecoin issued by Ripple, aimed at maintaining a constant value of 1 US dollar.

This parity is achieved through backing with deposits in US dollars, short-term US Treasury bonds, and other cash-equivalent instruments.

2. When was RLUSD launched?

The stablecoin was launched today, December 17, 2024. This launch is an important step for Ripple, extending its offering beyond XRP and positioning itself in the competitive stablecoin market.

3. On which networks does RLUSD operate?

RLUSD is already operational on two major networks. The first is the XRP Ledger, owned by Ripple, and the second is Ethereum, the most widely used smart contract network.

This duality allows RLUSD to be part of both Ripple's native ecosystem and the vast network of decentralized applications (DeFi) that thrive on Ethereum.

With this interoperability approach, it seeks to maximize the reach and utility of RLUSD, allowing users to interact with different ecosystems without the need to convert between different stablecoins, thereby facilitating adoption and use.

4. How is the stability of RLUSD ensured?

The stability of RLUSD is ensured through reserves of US dollars, Treasury bonds, and other high-liquidity assets.

5. What is the goal of RLUSD?

The main goal of RLUSD is to facilitate fast and efficient cross-border payments, offering an alternative to traditional payment systems that are slower and more expensive.

As a stablecoin, $rlusd eliminates the volatility associated with other cryptocurrencies, making it ideal for commercial transactions.

6. How does RLUSD benefit XRP?

The introduction of RLUSD could significantly increase the utility of XRP. When making transactions with RLUSD on the XRP Ledger, the use of XRP is required to pay transaction fees, which could increase the demand for $XRP and, consequently, its value.