Ripple released an exclusive webpage for its stablecoin RLUSD, which has not yet been launched.
The webpage release showcases Ripple’s efforts to establish RLUSD’s roots in the stablecoin market.
Despite the webpage release, the stablecoin’s launch date is still unrevealed.
In an astounding development, Ripple introduced a webpage exclusively for its stablecoin, RLUSD. The move highlights the company’s efforts to establish its roots in the stablecoin market.
Earlier this year, Ripple announced the launch of RLUSD on both the XRP Ledger and the Ethereum main chain. The company asserted that the stablecoin launch responded to the growing demand for stablecoins in the global market.
Ripple CEO Brad Garlinghouse revealed the stablecoin’s name during the XRP Ledger Community Summit (XRPL Apex) in Amsterdam. He exclaimed, “The name of the Ripple stablecoin [is] RLUSD; I like to call it Real USD or Ripple USD.”
‘The name of the @Ripple stablecoin, the $RLUSD, I like to call it Real USD… Ripple USD’ – Brad Garlinghouse (@bgarlinghouse) at #XRPLApex 2024 ⚡💙 pic.twitter.com/cRVsgnQLXQ
— XRP Ledger Apex (@xrplapex) June 12, 2024
In a previous interview, Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, pinpointed the significance of RLUSD in the emerging stablecoin market. As per his perspective, the stablecoin market, currently valued at around $150 billion, could fly high to $2.8 trillion-$3 trillion by 2028. The launch of RLUSD aligns with this trend, placing it in the right position in the market.
The official webpage of RLUSD provides a detailed view of the vision of RLUSD. Despite the site’s release, the launch date of the stablecoin is still unknown. According to the webpage,
Ripple USD (RLUSD) is being designed to maintain a constant value of one US dollar. Issued on XRP Ledger and Ethereum blockchains, Ripple USD will be fully backed by a segregated reserve of cash and cash equivalents and redeemable 1:1 for US dollars.
Despite this strategic development, Ripple’s XRP token is trailing over a negative track, experiencing a notable decline of 3.32% in a day and a 7.72% dip in a week. However, over the past 30 days, the XRP token has seen a significant surge of more than 21%.
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