Stablecoin

when

<p>Ripple Labs has intensified testing its stablecoin, RLUSD, as it aims to expand its role in the growing stablecoin ecosystem. Recent transactions revealed the minting of nearly 10 million RLUSD tokens on the XRPL. These developments come as Ripple nears a potential approval in New York, which marks a significant milestone for its blockchain-based payment network.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-rlusd-to-launch-on-dec-4">RLUSD To Launch On Dec 4</h2>   
<p>According to <a href="https://www.foxbusiness.com/markets/ripple-poised-new-york-approval-stablecoin-set-enter-regulated-us-crypto-market">Fox Business</a>, Ripple is expected to launch RLUSD on Dec. 4, following approval by the New York Department of Financial Services.</p>   
<p>With the crypto community anticipating the launch, the blockchain platform has warned users not to associate with any tokens claiming to be RLUSD until an official announcement is made. Moreover, a recent X post from Tron founder Justin Sun has further increased the anticipation of the forthcoming stablecoin.&nbsp;</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/justinsuntron/status/1864277535196107200 
 </div>
</figure>   
<h2 class="wp-block-heading" id="h-will-rlusd-release-help-trx-reclaim-its-status">Will RLUSD Release Help TRX Reclaim Its Status?</h2>   
<p>Previously, Tron (TRX) had surprisingly lost its status as the largest blockchain by the number of USDT stablecoins issued. After about 2.5 years of dominance, it was overthrown by Ethereum (ETH). Hopefully, the potential RLUSD release would help Tron (TRX) reclaim its status as the preferred blockchain for stablecoins. Notably, TRX set a new all-time high today. In 24 hours, its price added over 80%. </p>   
<p>The potential approval comes when Ripple also sees a surge in XRP prices. XRP has risen over 3% in the past 24 hours, trading at $2.56. This increase in value reflects broader optimism about Ripple’s long-term prospects and its growing role in the blockchain space.</p>   
<h2 class="wp-block-heading" id="h-ripple-aims-to-reach-wider-audience">Ripple Aims To Reach Wider Audience</h2>   
<p>Notably, Ripple’s stablecoin testing across two major blockchains signals its intent to enhance liquidity and interoperability. By leveraging the XRP Ledger and Ethereum, Ripple seeks to reach a wider audience and expand its use case in cross-border payments.&nbsp;</p>   
<p>Once RLUSD is available, Ripple plans to use both RLUSD and XRP in its cross-border payments solution to serve its global customers, the company said in RLUSD’s beta testing announcement. According to Ripple Labs CEO Brad Garlinghouse, RLUSD will focus more on large institutional players.</p>

RLUSD Launch: Justin Sun Hints At Ripple’s Stablecoin Launch On Tron

Table of Contents

CoinPedia News

Other articles published on Dec 4, 2024

Exchange tokens BNB, BGB, and GT hit all-time high (ATH) levels

Long-time stakeholder in Upbit’s parent seeks exit just day after South Korea lifts martial law: ...

Purple BTC: The Future of Solana, Powered by Bitcoin’s Legacy

Top Crypto for 2024: Qubetics Raises $4.2M as Toncoin Gains Whale Momentum and Hedera Surges 42%

RWA Marketplace AgriDex Launches $AGRI Token to Decentralise and Transform the Agricultural Industry

Perennial Unveils a Novel Intent Layer for Perpetuals – Solving DeFi’s Fragmented Liquidity Problem

Join our free newsletter for daily crypto updates!