Ripple’s RLUSD Stablecoin Launches Today, Here’s What Users Need to Know Coinspeaker Ripple’s RLUSD Stablecoin Launches Today, Here’s What Users Need to Know Ripple’s long-awaited RLUSD stablecoin is set to launch today, December 4, after gaining approval from the New York Department of Financial Services. The preliminary listing for RLUSD has already appeared on some major cryptocurrency data platforms. However, blockchain company Ripple has warned against some fake tokens claiming to be RLUSD unless there is an official launch announcement. Ripple first introduced the RLUSD stablecoin in early June as a 1:1 USD-pegged stablecoin backed 100% using USD deposits, short-term US Treasuries, and other cash equivalents. In August, Ripple pushed RLUSD into beta testing on its decentralized public blockchain platform, alongside the Ethereum mainnet and the XRP Ledger (XRPL). The company is also keen to expand its RLUSD stablecoin to other blockchain networks and DeFi platforms over time. Amid the excitement surrounding the launch of RLUSD, Ripple’s native XRP has surged 440% in the past month, breaking into the top three cryptocurrencies. Following the launch of RLUSD, Ripple plans to use the stablecoin alongside XRP for cross-border payments. Ripple CEO Monica Long has stated that RLUSD’s design is “complementary and additive” to XRP. Sources indicate that Ripple sees RLUSD as “beneficial” to XRP while pairing them together. Additionally, XRP will further increase liquidity for RLUSD through its widespread presence on exchanges. Additionally, Ripple will ensure the stabilization of RLUSD through parity with XRP to avoid any kind of de-pegging.
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