Bitstamp trading platform announced that they’ve added Ripple‘s USD-backed stablecoin (RLUSD) to their Ethereum blockchain, inviting everyone to participate in trading on their platform.
The Regional Local Utility Stability Dollar (RLUSD) aims to consistently match the U.S. dollar‘s worth. This stability is ensured by backing it with actual cash and its equivalent. But remember, Bitstamp is merely the first step in this journey.
According to a recent interview with Bloomberg, Ripple’s president, Monica Long, anticipates that the stablecoin, RLUSD, will soon become available on prominent exchanges. She added that Ripple is putting in considerable effort to expand the availability of RLUSD across multiple platforms and hinted at more updates coming soon.
On December 17, 2024, Ripple introduced the RLUSD stablecoin following approval from New York’s Department of Financial Services. At the time, Ripple’s CEO Brad Garlinghouse stated that as U.S. regulations grow more definite, digital currencies like RLUSD will see wider usage.
In addition to Bitstamp, Real-Life USD (RLUSD) is currently available on various other exchanges such as Archax, B2C2, Bitso, and Uphold. Notably, Ripple aims to make it accessible on Flowdesk and Zero Hash in the near future. Furthermore, Ripple has partnered with Chainlink to introduce RLUSD to users within the decentralized finance (DeFi) ecosystem, thereby increasing its influence within the cryptocurrency sphere.
Monica Long additionally expressed her opinion that it’s likely that the primary token of Ripple, XRP, could be integrated into an Exchange-Traded Fund (ETF) based in the U.S., joining the ranks of Bitcoin and Ether ETFs.
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2025-01-08 21:40