Price predictions for the Ripple currency after Ripple enters into a $700 million deal with BlackRock
BlackRock and VanEck - two of the largest asset management firms - announced their official partnership with Ripple Labs to enable recovery operations from digitally represented treasury bills using the Ripple USD-RLUSD currency, in a pivotal step supporting the bullish predictions for the price of Ripple (Ripple) targeting $1,000.
The two funds – BlackRock's BUIDL and VanEck's VBILL – manage over $2 billion in assets, and the companies confirmed on Tuesday the integration of the stablecoin, representing a significant shift towards solidifying practical use cases and expanding institutional adoption of the Ripple technology system.
With support from Securitize, both BlackRock and VanEck have been pioneers in representing access to treasury bills digitally. Today, the institutions chose Ripple to enable recovery operations using the stable Ripple currency, the RLUSD currency. This action aims to enhance liquidity levels across both systems by allowing investors to redeem their shares in the funds for the RLUSD currency, a stablecoin pegged to the US dollar with an estimated market value of about $700 million.
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