Stablecoin is launching on both the XRP Ledger and Ethereum blockchains, providing broad availability and interoperability.
In a press release issued on Monday, #Ripple said that RLUSD will initially launch on Uphold, Bitso, MoonPay, Archax and CoinMENA, but RLUSD will also appear on other #cryptocurrency trading platforms such as Bullish, Bitstamp, Mercado #Bitcoin , Independent Reserve and Zero Hash in the coming weeks. the company said. The company also stated that each RLUSD token is backed by dollar deposits, U. S. Treasuries and cash equivalents to ensure stability, reliability and liquidity.
December 14, Ripple CTO David Schwartz stated that the initial supply shortage of RLUSD and warned the community that this could lead to temporary price volatility. Mr. Schwartz assured users that the short-term deviations would soon stabilize as the arbitrage mechanism would bring the value of RLUSD back to the original $1 peg. Schwartz stressed that the main objective of the stablecoin is to maintain price stability, and warned against irrational speculative behavior.
RLUSD is designed for financial applications, allowing institutions to make cross-border payments, access liquidity for remittances and treasury operations, and be Integrated into financial protocols. Acting as a bridge between fiat and cryptocurrency ecosystems and facilitating access to digital assets,
RLUSD can also be used to trade real tokenized assets such as commodities, securities and government bonds on the blockchain. Starting early next year, Ripple Payments will use RLUSD to process global payments for corporate clients.
The launch of RLUSD has already been covered by business media, including Fox Business and NYSE TV
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