Ripple announced the launch of its RLUSD stablecoin on the Kraken crypto exchange. This move is part of Ripple's strategy to strengthen its presence in the stablecoin market.
Launch of RLUSD Stablecoin
Ripple's RLUSD is now live on Kraken and is being used in real-time cross-border payments. This is a crucial step for integrating RLUSD into Ripple's payment infrastructure as demand for stablecoins increases and legislative frameworks are forming in Washington.
Integration with Payment Partners
BKK Forex and iSend, Ripple's payment platform partners, are already using RLUSD to streamline cross-border treasury operations. More partners are expected to follow. "RLUSD is being used in the payment flow with select customers," Ripple noted in a statement, adding that the stablecoin will gradually become available to other institutional clients on the network.
Stablecoin Market and Legislation
The announcement comes as stablecoins dominate headlines. Lawmakers in Washington are preparing to vote on stablecoin legislation that could set clearer rules. Globally, Tether’s USDT remains the dominant player, but the field is widening fast. Ripple’s bet is that increased clarity from regulators and its existing enterprise network could provide RLUSD with an edge in a growing market that heavily relies on trust and transparency.
The launch of RLUSD on Kraken and integration with Chainlink to support its use in DeFi illustrates Ripple's strategic positioning in the stablecoin market. The emerging legislative framework could further promote RLUSD's adoption.
