Ripple (XRP) Unveils Plans for Launching Its Own Stablecoin Dubbed Ripple USD (RLUSD)
Sep 09, 2024 pm 06:14 PM
What's New? Ripple made waves earlier this earlier when announcing it will jump on the stablecoin bandwagon. So far, the team has revealed
Ripple is planning to launch a stablecoin called Ripple USD (RLUSD) that will be pegged to the American dollar and available on the XRP Ledger (XRPL) and Ethereum. The stablecoin is currently in private beta testing, and the first batch of RLUSD was minted in August.
However, the stablecoin is not yet available for trading or purchase. Ripple’s team has warned users to be aware of bad actors who “may exploit Ripple’s brand and purport to have early access to sell Ripple USD.”
According to Ripple’s CTO David Schwartz, RLUSD will “probably” only be available directly to institutions. He also said that the stablecoin is unlikely to be used for illicit activities like money laundering except maybe in the early test phases.”
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