Ripple's stablecoin RLUSD has garnered significant attention due to over 100,000 transactions on the XRP Ledger in the past two months, showing user preference over Ethereum.
Growth of RLUSD Popularity
Launched in December, RLUSD rapidly gained popularity due to its efficiency and lower costs compared to Ethereum. Over 95% of all RLUSD transactions occur on the XRP Ledger, confirming users' preference for this network.
Enhancing DeFi Support
To boost RLUSD adoption, Ripple partnered with Chainlink to provide reliable price feeds for RLUSD on Ethereum and the XRP Ledger, facilitating efficient transactions. Additionally, discussions with Cardano's founder Charles Hoskinson regarding potential collaboration have been initiated.
Activation of New Amendment on XRP Ledger
With over 90% of validator support, the clawback amendment was activated on the XRP Ledger on January 31st. This allows token issuers to reclaim assets under certain conditions, improving regulatory compliance and DeFi liquidity.
Ripple's achievements with RLUSD illustrate significant growth potential in cross-border payments and decentralized finance, supporting the company's plans to further implement innovative financial solutions.
