Bank

FOMO

Reserve

Blockchain payments firm Ripple Labs Inc. is launching its new stablecoin, RLUSD, on global exchanges starting Tuesday, December 17, 2024.
According to the announcement, RLUSD is designed as an easy-to-use stablecoin that operates strictly under compliance. With the RLUSD launch, Ripple aims to set a new standard in the stablecoin market.
<h2 class="wp-block-heading" id="h-ripple-labs-rlusd-debut">Ripple Labs RLUSD Debut</h2>
At launch, users can find RLUSD on major platforms like Uphold, MoonPay, Archax, and CoinMENA. Ripple also plans to add more exchanges for RLUSD soon.
Expected new listings include Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash. These partnerships will make RLUSD widely available and useful for users worldwide.
Notably, <a href="https://www.thecoinrepublic.com/2024/10/15/ripple-announces-rlusd-stablecoin-partners-here-are-the-updates/" rel="noopener noreferrer nofollow">Ripple has big plans for the RLUSD stablecoin</a>. Next year, the company plans to add Staticcoin to its payment systems.
This will help its business clients make cross-border transactions. By using RLUSD, Ripple wants to provide global payment solutions that are affordable, secure, and efficient.
Undoubtedly, this move will help Ripple maintain its role as one of the dominant firms in blockchain-based financial services.
Meanwhile, the blockchain payment company plans to hire an independent auditing firm to check and verify RLUSD’s reserve assets.
The firm will publish monthly reports to inform users about the stability and security of the stablecoin. This effort shows Ripple’s commitment to compliance and building confidence among users and investors.
Furthermore, Ripple said it will strengthen its advisory board in the short term.
The company plans to appoint two experts: Raghuram Rajan, the former Governor of the Reserve Bank of India, and Kenneth Montgomery, the former First Vice President and COO of the Federal Reserve Bank of Boston.
These experienced leaders will offer important advice as Ripple deals with regulatory issues and expands its global operations.
<h2 class="wp-block-heading" id="h-warning-on-fomo-from-ripple-cto">Warning on FOMO From Ripple CTO</h2>
Meanwhile, Ripple’s Chief Technology Officer, David Schwartz, <a href="https://x.com/JoelKatz/status/1868329931698245843?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1868329931698245843%7Ctwgr%5E8c7c981d406dc15655985a55326dac16eea52314%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fthecryptobasic.com%2F2024%2F12%2F16%2Fripple-cto-says-dont-fomo-into-rlusd-its-not-an-opportunity-to-get-rich%2F" rel="noopener noreferrer nofollow">shared </a>an important message about RLUSD earlier.
He stressed that the token is designed as a stable and reliable payment tool rather than a way to make big profits. Schwartz said;
“Please do not FOMO into a stablecoin! This is not an opportunity to get rich.”
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 In Xaman t’s showing the price to be a $1,200 RLUSD conversion to XRP. Is this the instant over night price adjustment the XRP community has been waiting for… Will the price of XRP adjust to the value OF 1 RLUSD or is this a glitch until it goes “LIVE”? <a href="https://t.co/kzYZ18fVGD" rel="noopener noreferrer nofollow">https://t.co/kzYZ18fVGD</a>— Digital Assets Daily (@AssetsDaily) <a href="https://twitter.com/AssetsDaily/status/1866802646255874483?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 11, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Schwartz said that the high value the token will display at launch will come from expected shortages of RLUSD.
The recent pre-market value may mean the demand is much higher than the available supply. However, Schwartz thinks this will only last briefly after the launch.
“The whole point of a stablecoin is to have a stable price. Short-term changes in prices due to shortages of supply and demand are certainly possible, especially around launch, but they should not remain for long as arbitragers rapidly fix the market,” the Ripple CTO warned.
<h2 class="wp-block-heading" id="h-can-ripple-compete-with-usdt-and-usdc">Can Ripple Compete With USDT and USDC?</h2>
According to Levi, a popular crypto market commentator, <a href="https://www.thecoinrepublic.com/2024/10/12/xrp-whales-shift-81m-coins-analyst-eyes-10-after-rlusd-launch/#:~:text=RLUSD%20launch%20boosts%20XRP%20prospects%20as%20regulatory%20clarity,stablecoin%20could%20enhance%20XRPL%E2%80%99s%20liquidity%2C%20attracting%20institutional%20interest." rel="noopener noreferrer nofollow">RLUSD could bring in more liquidity </a>and trading volume to the platform.
This will benefit the Decentralized Finance (DeFi) ecosystem and institutions. With RLUSD integration into Ripple, institutions can transact using a stablecoin, a regulative alternative option like USDT and USDC.
Similarly, Brad Garlinghhouse, Ripple’s CEO, remains confident that the blockchain can take on the dominant USDC and USDT.
The firm relies on its global banking and <a href="https://www.thecoinrepublic.com/2024/10/21/will-ripples-rlusd-stablecoin-partnership-with-irc-spark-xrp-price-surge/" rel="noopener noreferrer nofollow">financial partner network</a> to support adoption worldwide.
The post <a href="https://www.thecoinrepublic.com/2024/12/17/ripple-labs-to-launch-rlusd-on-december-17-heres-what-to-expect/" rel="noopener noreferrer nofollow">Ripple Labs To Launch RLUSD On December 17, Here’s What To Expect</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.

Ripple Labs To Launch RLUSD On December 17, Here’s What To Expect

Table of Contents

Thecoinrepublic.com

Other articles published on Dec 17, 2024

Experienced Analyst Reveals Huge Bullish Predictions for Bitcoin (BTC), Ethereum (ETH) and Solana...

Binance Increases BFUSD Position Limits to Enhance Futures Trading Flexibility

New Investors Bet Big On Solana Amid Volatility

Crosswalk Chronicles #3:

$107,780.58 Set as Bitcoin’s New ATH, Analysts Notice Second Consecutive Bullish Weekly Close for...

Senate Cancels Caroline Crenshaw’s SEC Renomination Vote

Join our free newsletter for daily crypto updates!