Ripple is back in the news with its new stablecoin RippleUSD (RLUSD). The company announced that RLUSD is being tested on the Ethereum mainnet and XRP Ledger. This move has sparked a lot of interest in the crypto community following Ripple’s legal battles with the SEC. The introduction of RLUSD is a significant milestone in the stablecoin market for blockchain.

Ripple pegs RLUSD 1:1 to the US dollar, providing a stable value for cross-border payments and other financial services. RLUSD is backed by US dollar reserves, short-term government bonds, and cash equivalents.

Ripple is testing RLUSD on the Ethereum and XRP Ledger networks. This testing phase is critical to improving the stablecoin’s performance. RLUSD will be integrated into Ripple’s global payments solution once it receives regulatory approval.

Ripple’s move to introduce RLUSD comes at a time when the stablecoin market is expected to exceed $2 trillion by 2028. Ripple aims to provide a stable and scalable solution using the Ethereum and XRP Ledger networks.

Ripple is opening the door to a new era in cross-border payments as it enters the stablecoin market with RLUSD. The company continues to prepare for the widespread adoption of RLUSD and aims to increase user and regulator trust with its commitment to transparency.