Ripple has officially announced the launch of its RLUSD stablecoin, which will launch soon. Monica Long, President of Ripple, took to social media on Monday to say that the new stablecoin is a major step forward for both XRP Ledger and Ripple, which has processed over $70 billion in payments. RLUSD combines Ripple’s more than 10 years of experience with strict compliance standards and support from a trusted advisory board.
The company has received final approval for RLUSD from the New York State Department of Financial Services (NYDFS), according to the charter of the limited-purpose trust company regulator, as of last week. RLUSD will launch on platforms such as Uphold, MoonPay, CoinMENA, Archax, and Bitso, with several other exchanges like Bullish, Mercado Bitcoin, Zero Hash, Independent Reserve, and Bitstamp joining soon.
When Will RLUSD Launch?
RLUSD will be available on global exchanges starting today, December 17, 2024. Although the launch date has been confirmed, the exact time has not yet been disclosed. While social media posts on X suggest that the launch will take place at 8:00 AM EST, allowing users to participate before the regular workday from 9-5 begins, this information is purely speculative and has not been officially confirmed. Therefore, caution is advised until Ripple provides official details.
XRP Price Surges
The market is reacting positively to this news, with the value of XRP increasing. Although some traders are taking profits, excitement is growing and the price of XRP may continue to rise as confidence in Ripple increases. XRP has experienced a significant price surge due to an important announcement from Ripple.
While Bitcoin and other cryptocurrencies like BNB and ETH are performing well, XRP's movement is directly related to news about Ripple's stablecoin. As trust in Ripple increases, the value of XRP is expected to rise, benefiting from positive sentiment in the cryptocurrency market.
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