Ripple, a blockchain leader based in San Francisco and operator of XRP, the third-largest cryptocurrency, has introduced its new stablecoin product, RLUSD. In a recent announcement, Ripple shared a tweet inviting the crypto community to explore RLUSD, a product shaped by over a decade of on-chain expertise. The company also provided access to RLUSD’s whitepaper through its official website.
Key Features of RLUSD
The Ripple website details RLUSD as a stablecoin designed for real-time payments with seamless fiat-to-stablecoin on/off ramps. Users can hold, buy, and trade tokenized USD through RLUSD, which meets high standards and is backed by cash reserves, Treasuries, and other cash-equivalent assets.
Ripple launched RLUSD on both the Ethereum blockchain and the XRP Ledger after completing rigorous testing between August and December. The whitepaper highlights RLUSD’s high speed, low-cost transactions, and scalability on the XRP Ledger, which supports over 1,500 transactions per second.
Related article: Ripple Sets the Stage with RLUSD Growth in Stablecoin Space
Ripple aims to integrate RLUSD into its cross-border payments platform, which handles billions of U.S. dollars in transactions. While the stablecoin primarily targets cross-border payments and institutional use, the whitepaper emphasizes its versatility for various applications.
Massive XRP Transfers Signal Activity
On January 1, blockchain tracker Whale Alert identified two significant XRP transactions. The first moved 500 million XRP, valued at over $1 billion, from escrow. This aligns with Ripple’s monthly practice of releasing 1 billion XRP from escrow at the start of each month.
Related article: Ripple Moves 10 Million RLUSD in One Hour Amid Stablecoin Buzz
The second transaction saw 300 million XRP transferred from an anonymous wallet to Ripple. Whale Alert confirmed the sender’s address as belonging to Ripple.
With RLUSD and its accompanying features, Ripple continues to position itself at the forefront of blockchain-based financial solutions, focusing on speed, scalability, and practical use cases for its products.
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