Crypto lawyer Bill Morgan raises concerns about Tether's transparency, claiming Ripple's RLUSD is becoming the preferred stablecoin.
Advantages of RLUSD Over Tether
Bill Morgan criticized Tether's USDT for its lack of transparency and uncertain reserve backing, while RLUSD offers a more reliable custodial structure integrated with financial institutions.
> "RLUSD uses BNY Mellon for custody, making it a more reassuring option." - Bill Morgan
Growing Market Capitalization of RLUSD
Ripple's RLUSD witnessed a 26% rise in market capitalization last month, reflecting growing confidence and adoption. The consistent integration into traditional financial systems strengthens its position against competitors.
Declining Position of Tether
Tether's lack of transparency negatively affects its market position, leading to liquidity shifts toward RLUSD. The crypto industry responses show a preference for stablecoins with clear reserve reporting.
Given the increasing interest in transparency and reliability in stablecoins, RLUSD could capture a significant market share if it continues on this trajectory.
