▪️▪️▪️ Ripple Announces US Dollar-Indexed Stablecoin RLUSD: New Opportunities on XRP Ledger and Ethereum
Ripple, as a leading blockchain and crypto solutions provider, announced plans to launch a new stablecoin called Ripple USD (RLUSD). This stablecoin will be backed by 100% US dollar deposits, short-term US government bonds and other cash equivalents. RLUSD will be available on the XRP Ledger (XRPL) and Ethereum (ETH) blockchains and will later be expanded to other blockchains.
Ripple CEO Brad Garlinghouse stated that the stablecoin is a natural step to strengthen the bridge between traditional finance and the crypto world. This move by Ripple aims to create new opportunities in corporate and decentralized finance (DeFi) usage areas. Ripple's years of experience and extensive regulatory compliance network will ensure the safe and transparent use of this stablecoin.