Stablecoin

Axelar

<ul> 
 <li>RLUSD aims to compete with major stablecoins like Tether and USD Coin.</li> 
 <li>Ripple’s strategic initiatives enhance the interoperability and utility of RLUSD.</li> 
</ul> 
Ripple Labs Inc. has developed a new webpage for its next stablecoin, RLUSD. The release has aroused widespread interest, with blockchain researcher Collin Brown <a href="https://x.com/CollinBrownXRP/status/1820028150753173840">noting</a> that RLUSD intends to compete with big players Tether (USDT) and USD Coin. 
This step demonstrates Ripple’s determination to increase its presence in the stablecoin sector, despite the changing regulatory landscape. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Just In: <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw">#Ripple</a> Labs has launched the official website for its new RLUSD stablecoin! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f310.png" alt="🌐" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4b5.png" alt="💵" class="wp-smiley" style="height: 1em; max-height: 1em;"> Set to launch on the <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> Ledger, RLUSD aims to compete with <a href="https://twitter.com/hashtag/Tether?src=hash&amp;ref_src=twsrc%5Etfw">#Tether</a> and USD Coin. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/euWgVEhOql">pic.twitter.com/euWgVEhOql</a> 
 — Collin Brown (@CollinBrownXRP) <a href="https://twitter.com/CollinBrownXRP/status/1820028150753173840?ref_src=twsrc%5Etfw">August 4, 2024</a>
</blockquote> 
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<h2 id="rlusd-stablecoin-to-leverage-ripple-s-cross-border-network-and-xrp-ledger">RLUSD Stablecoin to Leverage Ripple’s Cross-Border Network and XRP Ledger</h2> 
The <a style="color: #008000;" href="https://www.crypto-news-flash.com/ripples-new-stablecoin-rlusd-to-bridge-traditional-finance-and-crypto/" target="_blank" rel="noopener">RLUSD</a> stablecoin is expected to improve Ripple’s business operations by leveraging its current cross-border settlement network and the well-known Layer 1 protocol, XRP Ledger. 
The stablecoin will be released on both the XRP Ledger and Ethereum, providing access to different ecosystems. This dual issuance adds significant liquidity to important trading pairs on certain centralized exchanges, increasing its utility and adoption. 
CEO Brad Garlinghouse presented RLUSD at the XRP Ledger Community Summit (XRPL Apex) in Amsterdam. Although the launch date is unknown, the announcement has sparked widespread excitement among the community. 
The publication of the RLUSD webpage has fueled this enthusiasm, despite the fact that the stablecoin’s release date remains unknown. 
On the other hand, as we previously <a style="color: #008000;" href="https://www.crypto-news-flash.com/ripple-president-highlights-xrpl-evm-sidechain-in-q2-report/">reported</a>, Monica Long, Ripple’s President, stressed the company’s focus on the XRPL EVM sidechain in their Q2 report, citing a collaboration with Axelar to improve interoperability. This strategic move is intended to improve the sidechain’s functioning and expand its use cases. 
Also, according to a prior CNF <a style="color: #008000;" href="https://www.crypto-news-flash.com/ripple-unlocks-500m-xrp-from-escrow-at-unknown-wallet/">report</a>, Ripple has released 500 million XRP from escrow to an unnamed wallet, reportedly to assist liquidity and potential future initiatives. 
Beside that, El Salvador is investigating the usage of XRP and Bitcoin for international trade with Russia, demonstrating the growing interest in Ripple’s solutions. This exploration is consistent with Ripple’s objective of improving cross-border transactions and providing more efficient financial services. 
Meanwhile, according to CoinMarketCap, the XRP price is currently around $0.5458, down 4.47% over the last 24 hours. This also reflects a bearish position of 9.58% for the last 7 days. 
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Ripple Unveils RLUSD Webpage: Set to Compete with Tether and USDC

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