Ripple Launches RLUSD Stablecoin, Prepare for XRP Army!
Hey there, exciting news in the world of blockchain! Ripple, a global company specializing in cross-border payments, is getting ready to launch a brand new stablecoin called RLUSD. This stablecoin will be pegged 1:1 to the US dollar and will be available on both the XRP Ledger and Ethereum platforms.
But hold on, Ripple is still waiting for the green light from the New York Department of Financial Services (NYDFS) before they can officially release RLUSD on these networks. Even though they’ve been gearing up for this launch for a while now, the final approval is in the hands of NYDFS.
Monica Long, the President of Ripple, mentioned that her team is all set and ready to go. But, they’re patiently waiting for the official permission. The application process is currently under review, so it’s just a waiting game at this point.
In the meantime, it’s worth noting that there are only about 100 thousand RLUSD tokens circulating on Ethereum and XRP Ledger networks at the moment. This scarcity could make RLUSD quite valuable once it’s fully launched.
On another note, XRP, Ripple’s native cryptocurrency, is doing quite well in the market. It’s currently trading at $1.46 on CoinGecko, which is around Rp23,068. This price surge has been fueled by positive vibes in the market, especially after recent events like Donald Trump’s election win and the upcoming departure of Gary Gensler, the SEC chairman known for his anti-crypto stance.
Exciting times are ahead for Ripple and the crypto community as a whole, so stay tuned for more updates on RLUSD and XRP!
