- Ripple has officially confirmed that its Ripple USD (RLUSD) stablecoin will be launched on December 17th.
- The RLUSD stablecoin will be listed on leading cryptocurrency exchanges like Bitstamp shortly after launch.
- Ripple CEO Brad Garlinghouse expects broader adoption of stablecoin products like RLUSD due to their “real utility.”
Ripple, a San Francisco-based blockchain company, has officially announced the launch date for its much-anticipated stablecoin, Ripple USD (RLUSD). This development comes as a significant milestone in the fintech world, promising to stir the dynamics of cryptocurrency trading.
Launch Announcement of Ripple USD (RLUSD)
Ripple has confirmed that its stablecoin, Ripple USD (RLUSD), will be officially launched on December 17. This product is expected to make its debut on leading cryptocurrency trading platforms shortly after its initiation. Among the list of exchanges to feature RLUSD, includes Bitstamp, as confirmed by Ripple’s Cassie Craddock.
Recent Developments and Expectations
The New York State Department of Financial Services (NYDFS) greenlighted the much-discussed stablecoin just last week. In light of this, Ripple CEO Brad Garlinghouse expressed his expectation for a broader adoption of stablecoin products, highlighting their “real utility.” Further, the announcement of the RLUSD launch resulted in a modest 1.5% increase in XRP tokens. However, the market had mostly priced in the impending launch of the stablecoin product, which follows an enormous rally experienced by the XRP.
Warnings Against Speculation and Future Prospects
David Schwartz, Ripple’s Chief Technology Officer, recently cautioned against speculating on the price of the highly anticipated stablecoin. This warning came after an individual expressed a willingness to acquire a fraction of one token for $1,200. Schwartz emphasized that the supply of the stablecoin would stabilize within an extremely short period. While commenting on the announcement, Schwartz stated his expectation for increased liquidity on the XRP Ledger due to the introduction of the RLUSD stablecoin. He also pointed out the countless opportunities for developers and users who seek to reap the benefits of XRPL, RLUSD, and XRP.
Conclusion
The imminent launch of Ripple USD (RLUSD) is a significant milestone in the cryptocurrency market. The stablecoin’s introduction is expected to drive a broader adoption of digital currencies and offer increased opportunities for developers and users alike. Despite the enthusiasm, users and investors are advised against speculation due to the predicted rapid stabilization of the stablecoin’s supply.
