RLUSD is a stablecoin developed by Ripple, aimed at revolutionizing the global remittance market worth $685 billion with low costs and fast speeds.
RLUSD leverages Blockchain technology to provide transparent, fast cross-border payments and support finance for the unbanked population, contributing to global financial inclusion.
MAIN CONTENT
The global remittance market is worth $685 billion, and traditional methods remain expensive and slow.
RLUSD addresses high fees and long transfer times thanks to blockchain, without needing banks.
Stablecoins are increasingly trusted by large businesses like Visa and Ripple, promoting financial inclusion.
What are the costs and drawbacks of traditional remittances?
Traditional remittances have high costs, with fees exceeding 6% and taking several days to reach recipients. According to the World Bank, in 2024, remittances from abroad will reach $685 billion, but remittance fees significantly reduce the actual amounts received. This is a huge burden for low-income families, especially in over 80 countries that depend on this flow.
Delays and high fees diminish the positive impact of remittances on local economic development and social equity.
“Many workers sending money can take several days, even weeks, while remittance fees erode their family finances.”
David Malpass, President of the World Bank, 2024
How does RLUSD operate and address traditional limitations?
RLUSD is based on blockchain technology to minimize costs and transfer times. Users can buy RLUSD, send it through wallets or cryptocurrency exchanges, and recipients have the option to hold or exchange it for local currency without needing a bank account. This is crucial for the unbanked population.
Thanks to nearly instant payments and low fees, RLUSD creates a more flexible, transparent, and inclusive remittance experience compared to old systems.
What role do large businesses play in promoting stablecoins?
Visa, one of the leading fintech corporations, has partnered to expand USDC services in various regions such as the Middle East, Africa, and Eastern Europe, demonstrating the strong position of stablecoins in global payments. Ripple has also obtained regulatory payment licenses and is competing with RLUSD as a safe, transparent solution for cross-border remittances.
“Stablecoins are becoming an effective, reliable means of global payment, adapting to the demands of the digital age.”
Al Kelly, CEO Visa, 2025
What is the broader development goal of RLUSD?
Ripple is not limited to remittances but also applies RLUSD to social and educational activities. The company has funded 25 million RLUSD to major educational organizations, reflecting its ambition to diversify its utility and provide broader social benefits. RLUSD's superiority in reaching unbanked users also helps businesses expand effective multi-channel payment solutions.
How will the future of finance and remittances change thanks to RLUSD?
Thanks to its advantages in processing speed, low costs, and compliance with international regulations, RLUSD is creating a breakthrough in traditional finance and the way money flows globally. The popularity and growth of stablecoins like RLUSD are moving towards realizing a more accessible and fair global economy.
Frequently Asked Questions
What is RLUSD? RLUSD is a stablecoin developed by Ripple, using blockchain to transfer money quickly with low costs and transparency. How does RLUSD address the limitations of traditional remittances? RLUSD reduces remittance fees, offers nearly instant payments, does not require a bank account, and is suitable for the unbanked population. Are stablecoins a viable alternative to traditional remittances? Stablecoins like RLUSD are an efficient, safe, and transparent option for cross-border payments, trusted by large organizations. What role does RLUSD play in financial inclusion? RLUSD helps connect finance with the unbanked population, promoting global financial inclusion. What other purposes does Ripple use RLUSD for besides remittance? Ripple uses RLUSD to support educational and charitable projects, showcasing the influence and diverse applications of stablecoins.
Source: https://tintucbitcoin.com/ripple-rlusd-huong-toi-chuyen-tien-685-ty/
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