Ripple Labs Launches Proprietary Stablecoin RLUSD to Enhance Usability

Ripple, which has recently attracted attention due to its surge, has officially launched its own stablecoin, Ripple USD (RLUSD). The market is optimistic that RLUSD will enhance the usability of Ripple.

Ripple has officially launched its own stablecoin, Ripple USD (RLUSD), on the 17th.

According to industry sources on the 22nd, Ripple launched RLUSD, a dollar-pegged stablecoin, on the 17th. Ripple stated that RLUSD is backed by dollars, U.S. Treasury bonds, and cash equivalents, ensuring stability, reliability, and liquidity. RLUSD can be used on the Ripple Ledger, a decentralized blockchain network associated with Ripple, and on the Ethereum blockchain. Currently, RLUSD is listed and traded on global cryptocurrency exchanges such as Bitso.

Following the news of Ripple's launch of its own stablecoin, Ripple surged in the short term. According to Upbit, a domestic cryptocurrency exchange, Ripple, which had risen nearly fivefold since the U.S. presidential election, is trading at around 3,440 KRW, having given back some of its gains. On the 17th, Ripple recorded an intraday surge of 12% to 3,945 KRW following the RLUSD launch news. On the same day, Ripple's trading volume also surged by 80% compared to the previous day, reaching 18 billion dollars (approximately 26.1 trillion KRW).

There is analysis that RLUSD will increase the usability of the cryptocurrency Ripple. Bitrue exchange's CMO Adam O'Neill predicted, "In RLUSD remittance transactions, Ripple is paid as a fee and burned in the network by that amount," and, "This could lead to a rise in Ripple's price as its supply decreases and scarcity increases."

There is speculation that altcoins, including Ripple, will continue to be strong in the U.S. under the second Trump administration. This is because U.s. President-elect Donald Trump has nominated Paul Atkins, a former SEC commissioner with a pro-cryptocurrency stance, as the next chairman of the U.S. Securities and Exchange Commission (SEC).