Ripple USD (RLUSD), a centralized stablecoin pegged to the U.S. dollar, launched in December 2024 after months of testing. This guide explores the features, potential impact on the XRP price, and role of RLUSD within the XRPL-based DeFi ecosystem.
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Launched in December 2024, Ripple USD is a stablecoin by Ripple pegged to the U.S. dollar at a 1:1 rate. The concept of a stablecoin is set to address the problems of cryptocurrency volatility that prevents digital assets from being used in complex economic mechanisms. Ideologically, they offset the gap between traditional currencies and blockchain applications.Centralized stablecoins are issued by some entities that are solely responsible for their backing, minting process and peg stability.
Tron , Ethereum , Solana , Polygon , BNB Smart Chain and TON are the most widely used blockchains for stablecoin issuance.Ripple is a U.S.-based fintech company operating a global cross-border digital payments system. Launched in 2012 by blockchain innovators Chris Larsen and Jed McCaleb, Ripple aims to improve cross-border value transfers by using distributed ledger technology to reduce costs and latency compared to traditional banking networks like SEPA.
Since the year of 2020, Ripple and its key officers Chris Larsen and Brad Garlinghouse have been sued by U.S. SEC for illegal securities offering in the form of cryptocurrency tokens.XRP is the core native cryptocurrency of XRP Ledger, its gas asset and major governance coin. It is used as a fee crypto for every transaction on XRPL. It relies on XRP Ledger as a tech basis and is accessible on centralized and decentralized exchanges.
In January 2024, such products were approved for Bitcoin , while in July 2024 the first ETFs on spot Ether went live. By press time, 21 products with the net value of assets under management over $113 billion are available for trading in the U.S. Ripple USD stablecoin is 1:1 pegged to the U.S. dollar price; Ripple guarantees the reliability of this peg. Via Ripple’s fully owned subsidiary, RLUSD is fully backed by a diversified portfolio of U.S. dollar deposits in partner banks, government bonds and cash equivalents.RLUSD is a cryptocurrency coin that is minted on top of two blockchains.
Also, with an explicit regulatory approval in store, RLUSD can be used for cross-border transfers by corporations not unlike other digital cash equivalents. Asset managers will also be using regulated stablecoins with no limits as these currencies can be taxated and included in reserve balances. On Sologenic, RLUSD can be traded in pairs with XRP, COREUM and SOLO, Sologenic’s native utility and governance cryptocurrency.
Stablecoin Ripple XRP RLUSD Defi XRPL
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