Ripple has announced the launch of its new stablecoin, RLUSD, which will enable faster and cheaper cross-border payments for businesses.
Launch of RLUSD and its Features
Ripple has rolled out its dollar-pegged stablecoin RLUSD to shift approaches in corporate payments. The new stablecoin is offered across the Ripple Payments network, providing a robust alternative channel for cross-border payments. Users report transaction settlements occurring instantly at lower costs compared to traditional banking systems.
Expanding Usage of RLUSD
Since its debut in December 2024, RLUSD has gained traction steadily. Its market value is approaching $250 million, with trading volume surpassing $10 billion. Utilization by companies like BKK Forex and iSend has enhanced treasury management, which Ripple hopes will foster broader adoption.
The Future of RLUSD in the Global Economy
Ripple is experimenting with using RLUSD to bolster its standing in the financial sector, including working with NGOs to enhance the transparency of fund distribution. The stablecoin simplifies fiat-to-crypto conversions, accelerates remittance settlements, and actively participates in the growth of the tokenized asset space.
With cross-border payments forecasts at $150 trillion annually, Ripple aims for RLUSD to become a key element in the banking system, transforming businesses' approaches to international fund transfers.
