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Just In: Ripple Launches Website for RLUSD Stablecoin

Blockchain payments firm Ripple Labs has launched the official webpage for its much-anticipated RLUSD stablecoin
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Just In: Ripple Launches Website for RLUSD Stablecoin

Highlights

  • The Ripple RLUSD website is up with details on the token
  • Ripple plans to launch the stablecoin on the XRP Ledger with interoperability features
  • The exact launch timeline is not released yet

In what is coming as a shock to community members, blockchain payments firm Ripple Labs Inc. has launched the webpage for its stablecoin RLUSD. While this might seem a long-due move from the company, it underscores the behind-the-scenes effort it is making toward launching the new token.

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Ripple Stablecoin To Compete With Rivals

As a payment firm, launching a stablecoin pegged to the US dollar seems like the right move for Ripple. With an extensive cross-border settlement network, the stablecoin will enhance its business operation. It is likely to leverage Ripple’s existing successful network including the XRP Ledger, its popular Layer 1 protocol.

With the Ripple stablecoin, the blockchain payments firm can compete directly with two of the biggest names in the stablecoin industry; Tether and Circle. Specifically, RLUSD would have to push for a share of the market that Tether (USDT) and USD Coin (USDC) already occupies. Despite changing cryptocurrency regulatory landscape, the company is optimistic its stablecoin will find its space in the market.

After consistently hinting at the possibility of having a Ripple stablecoin, Brad Garlinghouse, the platform’s CEO unveiled the “RLUSD” during the XRP Ledger Community Summit (XRPL Apex) in Amsterdam. At the time, the date for the launch of the United States dollar-backed stablecoin stayed undisclosed but this did not drain the community of their excitement.

Despite the recent launch of the RLUSD webpage, the timeline for the stablecoin launch remains unknown.

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Settlement in Ripple Vs SEC Lawsuit

Noteworthy, Ripple is making effort with RLUSD while also seeking headway in the XRP lawsuit with the US Securities and Exchange Commission (SEC). For the last few days, several rumors have made the rounds about the possibility of a settlement between the firm and the regulator. Also, market observers are discussing the possible timeline for this decision.

On the other hand, a few legal experts like pro-XRP lawyer Bill Morgan and former SEC attorney Marc Fagel do not see the likelihood of a settlement. Whatever the decision of the judge, it will set precedence for the broader crypto industry.

Similarly, ex-Ripple exec. Sean McBride predicted that the odds of Judge Torres ruling on the Ripple SEC lawsuit in August is 50/50. He also hinted at with a possible delay to September if the lawsuit is not resolved earlier.

Read More: US Voters No Longer Fancy Old Politicians, Mike Novogratz Says

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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