- Bitcoin maintains a strong position as altcoins surge fiercely.
- The price of Ripple’s XRP pumped by over 15% taking the price to over $1.
- This hike led to XRP Futures Open Interest hitting an ATH.
Ripple’s long-awaited stablecoin RLSD is gearing up for its monumental launch on December 4, 2024. This launch could bring a whole slew of new opportunities for the crypto market as it will open doors for more users, entities, and institutes to enter the crypto space. Moreover, it highlights the incredible strides and accomplishments of the Ripple team.
RLUSD Nears Monumental Launch
As we can see from the long post above, one crypto enthusiast compiles a series of benefits and advantages this release will give to the Ripple community as well as the greater crypto market. To start off, the post begins with the fact that the New York Department of Financial Services (NYDFS) has approved RLUSD.
What Does This Mean for USDT?
To highlight, he goes on to explain why this approval is a monumental moment in the history of crypto. He says that the NYDFS is known for tough crypto regulations. Thus, once approved, RLUSD will gain a significant edge as a compliant and stable alternative in a market increasingly focused on transparency.
Adding on, Ripple pursued a limited-purpose trust charter for RLUSD through its acquisition of Standard Custody and Trust earlier this year, therefore highlighting the team’s focus on compliance and trustworthiness. What’s more, this makes RLUSD a regulated stablecoin unlike USDT.
To add to the already bullish narrative, Ripple is partnering with Bitstamp, MoonPay, and Uphold for the rollout of RLUSD. These collaborations will make RLUSD seamlessly accessible across retail, institutional, and enterprise markets.
Also, during Ripple’s Swell conference, partners highlighted RLUSD’s potential to transform global payments, payroll solutions, and financial inclusion, particularly in underbanked regions. All in all, the stablecoin market, valued at $190 billion, is expected to grow significantly.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
