🛑📣 RLUSD will replace #Tether ?
Brad Garlinghouse, CEO of #ripple , announced the launch of a new Ripple stablecoin, called RLUSD, at the #XRP Ledger Community Summit, which took place on June 12 in Amsterdam.
The introduction of RLUSD represents significant progress in Ripple's product offering. Stablecoins have gained considerable recognition in the cryptocurrency market due to their ability to provide stability in a high volatility environment. These currencies are typically backed by a stable asset, such as a specific amount of fiat currency, which helps maintain their value.
During the announcement, no additional details were provided about the new stablecoin, such as its launch date or specific features. It remains to be seen how this new addition will affect Ripple's operations and the cryptocurrency market in general.
