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Rlusd

All articles tagged with #rlusd

economy20 days ago•25 min saved

Ripple Joins Open USD Stablecoin Network, Expanding Rails Without an XRP Price Promise

Open USD is a large consortium-backed dollar stablecoin run by Open Standard, backed by Visa/Mastercard/Stripe/BlackRock and 140+ partners. Ripple joined as a day-one integration partner (not issuer), placing the XRP Ledger on one of several rails alongside RLUSD. The move signals Ripple’s strategy to diversify settlement rails and grow RLUSD, but it’s unlikely to meaningfully lift XRP’s price on its own, since the stablecoin’s earnings go to partner companies, ledger fees are tiny, and regulatory scrutiny remains a risk.

via 24/7 Wall St.|

#economy #open-usd #ripple

cryptocurrency1 year ago•1 min saved

Ripple's XRP Surges Amid SEC Speculation and Strategic Moves

Ripple has burned 53 million RLUSD tokens across the XRP Ledger and Ethereum blockchains in preparation for the launch of its USD-backed stablecoin, RLUSD. This move is part of Ripple's strategy to manage supply and boost demand ahead of the stablecoin's release, which is expected by the end of the year pending regulatory approval from the New York Department of Financial Services. The stablecoin will be backed by U.S. Treasury bills, dollar deposits, and cash equivalents, with monthly reserve certifications by BPM, an independent accounting firm.

via U.Today|

#blockchain #cryptocurrency #ripple