Ripple announced the launch of its enterprise-grade stablecoin, Ripple USD (RLUSD), on global exchanges starting December 17th, 2024. RLUSD is available on both the XRP Ledger and Ethereum blockchains, offering flexibility and scalability. Ripple expects RLUSD to see widespread adoption as the US moves toward clearer regulations for stablecoins.
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Ripple's announcement comes at a time when demand for stablecoins is increasing. According to Ripple, the whole stablecoin market might skyrocket to $2 trillion by 2028 as demand for low-volatility fiat-pegged tokens increases.will initially be available on Uphold, Bitso, MoonPay, Archax and CoinMENA, with more listings on platforms such as Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve and Zero Hash, with others to follow over the coming weeks.
Starting early next year, Ripple Payments will use RLUSD to allow global payments for its enterprise's customers. Ripple Payments has served $70 billion in payments volume, with nearly global coverage through 90 payout marketplaces, accounting for more than 90% coverage of the daily FX market.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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