As a seasoned researcher with a knack for deciphering market trends and understanding regulatory intricacies, I must admit that the impending launch of Ripple‘s stablecoin, RLUSD, has piqued my interest significantly. My journey in the cryptosphere has been marked by numerous twists and turns, but this particular development seems to be a turning point for Ripple.
Tomorrow, Ripple’s much-anticipated stablecoin is set to make its debut, as the company has just announced.
The statement also outlined several platforms where users will be able to purchase the new asset.
Despite encountering challenges with the U.S. securities regulatory body, Ripple made waves in the stablecoin sector earlier this year by unveiling its intention to join the burgeoning market with a self-developed counterpart named RLUSD.
Following a shift in the nation’s regulatory and political environment last month, RLUSD received approval from the New York Department of Financial Services (NYDFS). This has sparked conjectures regarding the potential launch date.
Just moments ago, the organization responsible for XRP and its forthcoming stablecoin made an announcement that the trading of this stablecoin will become official as of tomorrow – specifically on December 17th.
On the day of our launch, I’m thrilled to announce that my “enterprise-grade” asset, crafted with trust, utility, and compliance at its core, will be accessible on platforms such as MoonPay, Bitso, and CoinMENA, with a few more joining the list.
The company also announced that it had invited Raghuram Rajan, who served as the former Governor of India’s Reserve Bank, along with Kenneth Montgomery, a previous First Vice President and Chief Operating Officer of Boston’s Federal Reserve, to join its Ripple stablecoin Advisory board. This board already includes Chris Larsen, David Puth, and Sheila Bair.
Why RLUSD?
100% Secured by U.S. dollar reserves, U.S. government bonds, and similar liquid assets under regular third-party inspections every month, this platform offers compatibility with multiple blockchains. Designed primarily for swift cross-border transactions, decentralized finance (DeFi) connections, and seamless conversion between traditional fiat currencies and cryptocurrencies.
RLUSD is a step toward the future of…
— Ripple (@Ripple) December 16, 2024
The excitement surrounding the stablecoin has significantly boosted the value of XRP. Prior to its launch, XRP was trading at approximately $2.38; however, shortly after going live, it reached a multi-day high of $2.48.
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2024-12-16 19:33