Ripple has introduced a new stablecoin called Ripple USD (RLUSD), marking a significant growth vector for the company and its community.
RLUSD Launch and Availability
Ripple officially launched its new stablecoin RLUSD on several cryptocurrency exchanges, including Uphold, MoonPay, Keyrock, and Bitso. Soon, it will also be available on other platforms such as Bitstamp and Bullish. Currently, there are 53.18 million RLUSD in circulation.
Initial Results and Prospects
On its first day of trading, RLUSD recorded $549,820 in volume. Although RLUSD is not yet listed in CoinGecko's stablecoin rankings, it can be tracked on CoinMarketCap and other platforms. To rank among the top 10 largest stablecoins, RLUSD would need to exceed a market cap of half a billion dollars.
Competition and Distinction of RLUSD
Among the most significant stablecoins are Tether (USDT) and Circle's USDC, with market caps of $140 billion and $42.8 billion, respectively. RLUSD stands out for its full regulation, making it unique among its competitors. SWIFT veteran Andre Casterman described RLUSD as a game changer for the cross-border payments market.
The launch of RLUSD marks a new phase of development for Ripple, offering a reliable and regulated tool for the cryptocurrency market.
