Ripple has launched the RLUSD stablecoin on the Kraken exchange and integrated it into its payment platform. This initiative aims to enhance cross-border payments and strengthen its position in the stablecoin market.
RLUSD Launch and Integration
Ripple announced the launch of the RLUSD stablecoin on the cryptocurrency exchange Kraken. Simultaneously, the stablecoin was integrated into the company's main payment solution, enabling its use for cross-border payments. The company confirmed in a statement that RLUSD is being used to enhance cross-border treasury operations.
Usage and Benefits of RLUSD
Ripple's clients, such as BKK Forex and iSend, are leveraging RLUSD to improve their treasury operations. Company representatives noted that the stablecoin helps reduce transfer costs and provides price stability in a fluctuating market.
Growing Interest and Prospects
Since its launch in December, RLUSD's market cap has surpassed $240 million. Jack McDonald, SVP of Stablecoins at Ripple, highlighted RLUSD's expanding use cases, including its use as collateral in both crypto and traditional financial markets.
The launch of RLUSD on Kraken and its integration into the Ripple platform underscores the significance of stablecoins in modern payment systems and demonstrates the company's commitment to strengthening its position in cross-border payments.
