The Ripple RLUSD stablecoin, pegged to the US dollar, has been added to the decentralized finance (DeFi) platform Euler Finance. This move comes at a time when institutional interest in the Ripple ecosystem is growing. RLUSD, launched a few months ago, has recently surpassed the $300 million mark.
Euler Finance has integrated RLUSD, allowing users to use this stablecoin for borrowing and lending, as well as for collateral. This step is part of Euler Finance's ongoing efforts to diversify its lending and borrowing solutions based on crypto assets.
The platform has also introduced new incentive programs specifically for RLUSD. Under these programs, users providing loans in RLUSD can receive various benefits and rewards. These incentives are expected to further increase the adoption and use of RLUSD.
Recently, there has been a significant increase in interest from institutional investors in the Ripple ecosystem. The listing of RLUSD on Euler Finance may further enhance this interest. Experts note that the participation of large financial institutions in the stablecoin market supports innovative solutions across the industry.
Platform executives shared their views on this development. Euler Labs announced on social media that RLUSD is now active on their platform, and users can utilize this stablecoin.
Euler Labs: "The institutional stablecoin Ripple RLUSD is now available on our platform. Users can borrow, lend, or use it as collateral. Incentives for lenders have also been initiated."
Stablecoins play an important role in ensuring stability and managing risks in the DeFi ecosystem. The presence of RLUSD, pegged to the US dollar, on Euler Finance not only increases the diversity of crypto assets but also provides users with safer financial transactions. It also fuels the long-term growth potential of the XRP coin amid the growth of the XRPL ecosystem.
Despite the overall market decline that has led to a decrease in the value of XRP Coin to $2.2, it is expected to significantly benefit from the long-term growth of RLUSD.
The listing of RLUSD on Euler Finance is seen as a step that could promote the use of stablecoins in DeFi applications. Growing interest from users and institutional investors suggests a rapid spread of such initiatives in the future. The listing of RLUSD marks the continuation of monitoring the impact of stablecoins on DeFi platforms.
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