Ripple's stablecoin, Ripple USD (RLUSD), has gained significant momentum through its integration with Transak, a prominent cryptocurrency payment platform. This partnership allows Transak's 8.3 million users to purchase RLUSD using various fiat currencies. Transak's marketing head, Harshit Gangwar, noted that the collaboration aims to enhance RLUSD's distribution across Transak's extensive network, which includes over 450 wallets, DApps, and exchanges. The integration marks a pivotal upgrade for RLUSD, which recently achieved a $500 million market capitalization. RLUSD is now accessible in all 64 countries supported by Transak, including major markets like the U.S., U.K., and EU. While Transak is currently focused on fiat on-ramps for RLUSD, plans for off-ramps are set for 2025, targeting broader use cases such as remittances. Additionally, Ripple has appointed the Bank of New York Mellon as the primary custodian for RLUSD reserves, further solidifying its position in the digital asset landscape. Read more AI-generated news on: https://app.chaingpt.org/news

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