Ripple's new stablecoin for payments will be available to trade Tuesday
Publishing timestamp: 2024-12-16 11:56:06
Summary
Ripple's new stablecoin, RLUSD, will be available for trading on global exchanges after approval from New York State Department of Financial Services. The launch comes amid hopes for clearer U.S. regulations in the crypto industry. Ripple aims to provide a cost-effective and operationally efficient stablecoin for cross-border payments, complementing its existing business using XRP. The market for dollar-backed stablecoins has been growing, with Tether dominating. Ripple's move to launch RLUSD on both ethereum and XRP ledger will generate more need for XRP as a bridge asset.
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