bullish

Bitcoin

Standard

<ul class="wp-block-list">
 <li>Bitcoin maintains a strong position as altcoins surge fiercely.&nbsp;</li>  
 <li>The price of Ripple’s XRP pumped by over 15% taking the price to over $1.&nbsp;</li>  
 <li>This hike led to XRP Futures Open Interest hitting an ATH.</li> 
</ul>  
<p><a href="https://ripple.com/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a>’s long-awaited stablecoin RLSD is gearing up for its monumental launch on December 4, 2024. This launch could bring a whole slew of new opportunities for the crypto market as it will open doors for more users, entities, and institutes to enter the crypto space. Moreover, it highlights the incredible strides and accomplishments of the Ripple team.</p>  
<h2 class="wp-block-heading" id="h-rlusd-nears-monumental-launch">RLUSD Nears Monumental Launch</h2>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/realMaxAvery/status/1862625215995417081
 </div>
</figure>  
<p>As we can see from the long post above, one crypto enthusiast compiles a series of benefits and advantages this release will give to the Ripple community as well as the greater crypto market. To start off, the post begins with the fact that the <a href="https://www.dfs.ny.gov/" target="_blank" rel="noopener noreferrer nofollow">New York Department of Financial Services (NYDFS)</a> has <a href="https://cryptonewsland.com/ripple-burns-53-million-rlusd-tokens-across-xrp-ledger-and-ethereum/" target="_blank" rel="noopener noreferrer nofollow">approved RLUSD</a>.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-what-does-this-mean-for-usdt">What Does This Mean for USDT?</h2>  
<p>To highlight, he goes on to explain why this approval is a monumental moment in the history of crypto. He says that the NYDFS is known for tough crypto regulations. Thus, once approved, RLUSD will gain a significant edge as a compliant and stable alternative in a market increasingly focused on transparency.</p>  
<p>Adding on, Ripple pursued a limited-purpose trust charter for RLUSD through its acquisition of Standard Custody and Trust earlier this year, therefore highlighting the team’s focus on compliance and trustworthiness. What’s more, this makes <a href="https://cryptonewsland.com/rlusd-on-xrp-ledger-what-high-threshold-tracking-reveals-about-stability/" target="_blank" rel="noopener noreferrer nofollow">RLUSD a regulated stablecoin</a> unlike USDT.</p>  
<p>To add to the already bullish narrative, Ripple is partnering with Bitstamp, MoonPay, and Uphold for the rollout of RLUSD. These collaborations will make RLUSD seamlessly accessible across retail, institutional, and enterprise markets.&nbsp;</p>  
<p>Also, during Ripple's Swell conference, partners highlighted RLUSD's potential to transform global payments, payroll solutions, and financial inclusion, particularly in underbanked regions. All in all, the stablecoin market, valued at $190 billion, is expected to grow significantly.&nbsp;</p>   
<p>The post <a href="https://cryptonewsland.com/what-does-rlusds-launch-mean-for-the-crypto-market/" rel="noopener noreferrer nofollow">What Does RLUSD’s Launch Mean for the Crypto Market, Will RLUSD Replace Tether (USDT)</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

What Does RLUSD’s Launch Mean for the Crypto Market, Will RLUSD Replace Tether (USDT)

Table of Contents

Crypto News Land

Other articles published on Nov 30, 2024

Crypto Analyst Bullish on Fantom and Near Protocol: Analyst Sees Growth Ahead

Why Ignoring Meme Coins Is Keeping You From Becoming a Millionaire This Bull Run!

Surging Ethereum ETF Inflows Point to Potential Price Rally

What is Base, Coinbase's Ethereum L2 Network?

HYPE Token Jumps 80% to $7.03 After $1.2 Billion Airdrop

STRK and MANTA Gains Momentum Following Key Breakouts: Is More Rally Ahead?

Join our free newsletter for daily crypto updates!