In recent days, RLUSD has skyrocketed by 2000% in its volume. As we have discussed in this room, RLUSD is a stablecoin whose value will remain close to the dollar.
What we are seeing is a significant increase in the use and demand for RLUSD. At this moment, RLUSD is processing over 600 million dollars in transactions. It has gone from 20 million to 600 million. This is just the beginning, my friends.
Why is this important? "During market fluctuations, traders need a stable asset to protect their investments. RLUSD helps with this by acting as a reliable hedge, offering liquidity on major exchanges for smoother trading and portfolio management".
Expect stablecoin regulations to be just around the corner and a U.S. version of MICA regulations to come into play. It will trigger mechanisms that will govern our new digital economy from within. If someone deviates from these regulatory mechanisms, their account in the QFS will be flagged and moved to the federal level (we have been discussing these laws for the last 4 to 5 years) for criminal correction.
As we delve deeper into the new digital economy, it will be important to have an asset to move transactions that has a stable price while doing so. RLUSD has just been launched and is already establishing itself as a leader in the new digital world of finance.
Yes, Ripple's RLUSD stablecoin is intended to be used for global trade and backed by U.S. dollar reserves. Has the dollar just been digitized? We are about to find out. Remember, over 80% of forex volumes are transactions that are exchanged daily between countries.
As more and more countries begin to use their own stablecoins this year, we will see a balance between the current price indices of currencies. Or should I say, "a leveling of the playing field" in currency exchange rates.