Amelie (@_Crypto_Barbie), a well-known figure in the XRP community, recently shared a notable post featuring a statement from Ripple CEO Brad Garlinghouse. In the image she posted, Garlinghouse stated, “RLUSD is set to become the gold standard for enterprise-grade stablecoins.”
Garlinghouse’s comments have sparked excitement within the XRP and broader crypto communities, particularly given Ripple’s growing presence in the stablecoin market.
RLUSD is Ripple’s upcoming stablecoin, pegged 1:1 to the U.S. dollar. The stablecoin has been developed with a focus on enterprise use, promising enhanced trust, liquidity, and compliance.
Ripple has been preparing for RLUSD’s launch since early 2024, working with trusted partners to ensure a smooth rollout. The company envisions RLUSD as a critical player in facilitating cross-border payments, a core strength of Ripple’s blockchain solutions.
The RLUSD’s impending launch was announced at Ripple Swell, signaling the stablecoin’s readiness pending regulatory approval. Garlinghouse revealed that the stablecoin was close to launching in early September, and that launch is expected anytime from now.
This stablecoin will operate on the XRP Ledger and Ethereum, leveraging Ripple’s blockchain infrastructure to provide reliable and transparent services for institutions and businesses.
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Can RLUSD Take Over the Stablecoin Market?
Ripple will have to battle competitors like Tether (USDT) and Circle (USDC) in the stablecoin market, and RLUSD’s launch is seen as a significant step in challenging these established players. While RLUSD has garnered attention for its potential to revolutionize enterprise payments, Ripple will face challenges in gaining adoption amidst fierce competition.
However, the combination of Ripple’s strong reputation in the payments industry and its regulatory focus positions RLUSD as a compelling option for businesses. Through XRP, the company has shown that its products are at the top in their field, and RLUSD will not be an exception.
Notably, XRP has also been described as the digital gold for banks, and RLUSD will play a similar role for stablecoins, becoming the gold standard for what the community should expect from stablecoins.
Ripple recently minted additional RLUSD, bringing the total number of tokens to over 47 million RLUSD. Ripple revealed the global partners for RLUSD at the conference. Once the company receives regulatory approval, the stablecoin will launch globally for retail investors and institutions, ushering in a new era for stablecoins.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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