RLUSD - by Ripple

[Peter90]

Ripple USD (RLUSD) is now live

• Speed - transactions are confirmed on average in three to five seconds
• Low-cost - transaction fees are nearly fixed at $0.0002/tx
• Scalability - the XRPL has the ability to process 1,500+ transactions per second

Keyword: compliance

From their Whitepaper

RLUSD is issued in accordance with NYDFS stablecoin guidance, which sets forth requirements designed to protect stablecoin holders. Some of these requirements include:

● Regulatory Compliance: The NYDFS provides a framework for stablecoin issuers that establishes clear requirements related to the timely redemption of stablecoins, the safekeeping of stablecoin reserve assets, and independent third-party attestations to verify the reserve. SCTC is subject to oversight by the NYDFS for compliance with these requirements.

● Reserve Protections: The NYDFS requires stablecoins issued by a limited purpose trust to maintain one-to-one value with USD at all times, meaning that the market value of the reserves is at least equal to the nominal value of all outstanding units of the stablecoin as of the end of each business day. The reserve must be held in segregated accounts for the benefit of stablecoin holders, which is intended to protect the reserve from other creditors.

● Transparency and Accountability: The NYDFS establishes disclosure requirements and publication of monthly attestations by an independent Certified Public Accountant to verify the reserves backing the stablecoin. This ensures the stablecoin reserve is accurately reported, managed, and disclosed in a transparent manner and on a regular basis.


NYDFS = New York State Department of Financial Services

[MrSpasybo]

Ripple USD (RLUSD) is now live

• Speed - transactions are confirmed on average in three to five seconds
• Low-cost - transaction fees are nearly fixed at $0.0002/tx
• Scalability - the XRPL has the ability to process 1,500+ transactions per second

Ripple always has meticulous plans in its development strategy, and RLUSD is a part of that. The focus on legal compliance can help RLUSD attract traditional investors, and the Ripple ecosystem will have a strong stablecoin for future development plans.

Honestly, I have no plans to own RLUSD, USDT is more than enough for me to shelter assets when needed. However, I hope that RLUSD will bring many positive impacts to Ripple and the increase in XRP price. I usually dislike companies introducing new stablecoins because they often fail when they cannot compete with USDT and USDC, but Ripple is actually big enough for me to believe in the RLUSD future. I am also holding XRP and want it to increase in price, so I always support all of Ripple developments ^^

[Rruchi man]

Ripple USD (RLUSD) is now live

There are people who still have no idea about the stable coin RLUSD. Both the popularity will surely increase this year, and the ripple will surely benefit from it as the coin will improve and increase in value.

The rise in its popularity will affect the popularity of USDT.

[MrSpasybo]

There are people who still have no idea about the stable coin RLUSD. Both the popularity will surely increase this year, and the ripple will surely benefit from it as the coin will improve and increase in value.

The rise in its popularity will affect the popularity of USDT.

RLUSD has just been released and has not yet captured a significant market share from the giant stables USDT and USDC. However, with the potential of the XRP Ledger and the global banking network, RLUSD could be widely used in the future and participate in DeFi across multiple ecosystems.

I dare not think about the possibility of RLUSD becoming a top stablecoin in this market in the short term. I only hope that RLUSD will help the Ripple ecosystem become more vibrant and promote the sustainable XRP price increase

[target]

RLUSD has the potential to compete with Tether and provide liquidity to the projects that Tether had abandoned. There were smart contract platforms that didn;t make any good price at all because Tether is not adding themselves to its network.

Charles Hoskinson announced in his live podcast recently that he was in talks with XRP CEO Garlinghouse regarding RLUSD be in Cardano. And its very likely to happen this March.

[KryptoBull]

RLUSD has the potential to compete with Tether and provide liquidity to the projects that Tether had abandoned. There were smart contract platforms that didn;t make any good price at all because Tether is not adding themselves to its network.

Charles Hoskinson announced in his live podcast recently that he was in talks with XRP CEO Garlinghouse regarding RLUSD be in Cardano. And its very likely to happen this March.

The current market cap of RLUSD is only around 200M USD, much lower than many people's expectations and predictions. RLUSD has not been able to achieve the same success as USDe, and Xrp's ecosystem has not had any significant updates. I doubt the positive impact that RLUSD can bring to XRP!

The integration of RLUSD into the Ada ecosystem could be a success for both, but we should value results over news. I will only be interested in RLUSD during the crypto winter if I see its real value during this season. I always have much better options, which are USDT and USDC or USDe.

[MrSpasybo]

The current market cap of RLUSD is only around 200M USD, much lower than many people's expectations and predictions. RLUSD has not been able to achieve the same success as USDe, and Xrp's ecosystem has not had any significant updates. I doubt the positive impact that RLUSD can bring to XRP!

The integration of RLUSD into the Ada ecosystem could be a success for both, but we should value results over news. I will only be interested in RLUSD during the crypto winter if I see its real value during this season. I always have much better options, which are USDT and USDC or USDe.

I also don't dare to expect too much from the rapid growth of RLUSD marketcap since it's still a new stablecoin and used in the not-so-active XRP Ledger ecosystem. I don't even know any other projects in this ecosystem besides the native token - XRP. I only envision the value of RLUSD when participating in DeFi in the Cardano ecosystem and making up for the lack of stablecoins here when USDT and USDC are considered incompatible with Cardano governance philosophy.

We should see RLUSD as just a piece that Ripple is trying to build to be ready to pump XRP price at the appropriate time this year after XRP has made an impressive comeback and created a new ATH. What RLUSD brings will not only be high liquidity, but also the completeness of an ecosystem provided and actively promoted by Ripple, followed by a strong price increase of XRP ^^

[target]

XRP printed 50M more RLSUD today while trump wanted this stablecoin bills approved already. So there will be a big jump on the use of stablecoins when this bill finally is passed which Visa and mastercard may really be upset for what is going on now. The congress seem to be on the side of using stablecoin which is good for crypto.

We will likely be going to another ATH when the bill is passed. Another wave of bulls is coming.

[MrSpasybo]

XRP printed 50M more RLSUD today while trump wanted this stablecoin bills approved already. So there will be a big jump on the use of stablecoins when this bill finally is passed which Visa and mastercard may really be upset for what is going on now. The congress seem to be on the side of using stablecoin which is good for crypto.

We will likely be going to another ATH when the bill is passed. Another wave of bulls is coming.

Stablecoin regulations are being studied and will be implemented soon, providing a legal framework for stablecoin issuers to comply and grow stronger. Not only Ripple, but Tether is also seeking support from top auditing firms to continue operating stably in the US after they abandoned the EU market. The maturity of stablecoins is inevitable and will provide further momentum for the bullrun!

Regarding the crypto market, I hope the growth of USDT's market cap will play a crucial role, while RLUSD will only be able to contribute to the success of the XRP Ledger ecosystem, and then boost the price of XRP. I have XRP in my account, and I'm always waiting for its new ATH in the $10 zone this cycle ^^