Ripple Introduces Its New Coin: Will Be Released on Two Networks

Well-established cryptocurrency project Ripple (XRP) introduced its new stablecoin to the market.

The Ripple team introduced the stablecoin named Ripple USD (RLUSD) in a post from the X account on June 12. RLUSD stated that it will launch on the XRP Ledger and Ethereum (ETH) network later this year.

It was emphasized that the stablecoin in question will be supported at a 1:1 ratio with the dollar, and that they will offer more transparency and stability:

Meet Ripple USD (RLUSD): a 1:1 USD-backed stablecoin that offers transparency and stability on XRP Ledger and Ethereum. It will arrive later this year.

Currently, Tether (USDT) has a market value of $112 billion as the world's largest stablecoin issuer.

According to CoinGecko data, XRP, which increased by 2% due to the news flow, is traded at $ 0.49 at the time of writing.