Ripple confirmed at a press conference in Singapore that its stablecoin RLUSD will participate as collateral in financial transactions through Hidden Road.
Partnership Between Ripple and Hidden Road
Ripple's CEO Brad Garlinghouse announced that the stablecoin RLUSD will be accepted as collateral for all services provided by Hidden Road. This partnership is part of the company's broader institutional strategic approach, indicating significant changes in the market. Hidden Road processes transactions worth about $3 trillion a year and serves over 300 clients.
Features of the RLUSD Stablecoin
RLUSD distinguishes itself from other stablecoins by being designed for institutional use, fully backed by U.S. dollar reserves, and deeply integrated into financial markets. It allows Hidden Road clients to use RLUSD as collateral for trades in both traditional and digital assets, providing significant operational advantages and simplifying trading mechanisms.
Ripple's Ambitions in the Financial Market
Ripple is actively pursuing its ambitions in the financial market, implementing a strategy that takes into account evolving regulation in the U.S. The integration of RLUSD into Hidden Road's services and the potential use of the XRP Ledger (XRPL) for streamlining operations open new horizons for the application of blockchain technologies in traditional finance, strengthening Ripple's position as a key player in stablecoins and cryptocurrencies.
The announcement of RLUSD's acceptance as collateral in traditional finance emphasizes the growing integration of cryptocurrencies with traditional financial instruments, creating new opportunities for institutions and enhancing market liquidity.
