Ripple has connected its USD-backed digital currency, RLUSD, into its Ripple Payment system to make cross-border business transactions more efficient. This asset is almost at a market value of $250 million since it was first introduced in December 2024.
Ripple Adds Enterprise Stablecoin RLUSD to Cross-Border Payment System
Ripple Payments, a platform that claims to process billions in transaction volume, now supports RLUSD for cross-border settlements, targeting institutional efficiency. The stablecoin, designed for enterprise use, emphasizes compliance and speed, contrasting with retail-focused alternatives. In a note sent to bitcoin.com”>TopMob, early adopters include payment providers BKK Forex and Isend, which are using RLUSD to optimize treasury operations.
Ripple further explained that RLUSD’s market capitalization has climbed to nearly $250 million, with $10 billion in cumulative trading volume since its debut. The stablecoin is now available on Kraken, LMAX Digital, Bitstamp, and other major exchanges, broadening access for retail and institutional users. Ripple stated that it plans to expand RLUSD’s role in its payments ecosystem over time.
Jack McDonald, Ripple’s SVP of Stablecoins, insisted that RLUSD is gaining traction as collateral in crypto and traditional finance markets, with NGOs exploring its use for donations. The stablecoin also supports decentralized finance (DeFi) integration and fiat-crypto transitions, enabling enterprises to settle payments instantly and manage liquidity.
McDonald expressed further enthusiasm on Wednesday about incorporating RLUSD into Ripple Payments, expanding the variety of stablecoins in our international money transfer system. RLUSD is supported by Ripple’s New York-regulated trust company, which specializes in real-world assets like commodities and securities, making it possible for their trading on blockchain networks.
Ripple’s payments infrastructure leverages the XRP Ledger for low-cost transactions, though RLUSD operates as a separate stablecoin and is also issued on the Ethereum blockchain. The company has partnered with financial institutions globally to advance blockchain-based financial solutions. The integration, Ripple says, reflects the firm’s strategy to merge traditional finance (TradFi) with digital assets, emphasizing regulatory adherence.
Read More
- Ludus promo codes (April 2025)
- Cookie Run: Kingdom Topping Tart guide – delicious details
- Unleash the Ultimate Warrior: Top 10 Armor Sets in The First Berserker: Khazan
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Grand Outlaws brings chaos, crime, and car chases as it soft launches on Android
- Grimguard Tactics tier list – Ranking the main classes
- Fortress Saga tier list – Ranking every hero
- Tap Force tier list of all characters that you can pick
- ZEREBRO/USD
- Val Kilmer Almost Passed on Iconic Role in Top Gun
2025-04-02 20:30