Ripple Launches RLUSD Stablecoin Globally

Ripple is set to launch its USD-pegged stablecoin, RLUSD, on Tuesday, following regulatory approval from the New York Department of Financial Services. The stablecoin will be available on platforms like MoonPay, Uphold, Bitso, Archax, and CoinMENA, and is designed to maintain a 1:1 peg with the US dollar, backed by cash reserves and short-term Treasury bonds. This launch comes amid a significant price surge for XRP, which has seen over a 200% increase this month, buoyed by favorable regulatory developments and increased market interest. Analysts predict that RLUSD will enhance XRP's utility, particularly in cross-border payments and in emerging economies where stablecoins are popular. The integration of RLUSD with the XRP Ledger and Ethereum is expected to drive demand for XRP, as transaction fees will require the token. Overall, the launch is anticipated to strengthen XRP's position in the cryptocurrency market and attract institutional interest.