RLUSD is a stablecoin created by Ripple that is fully compliant and meets the highest regulatory standards. The company has committed to releasing regular transparency reports that detail the reserves backing RLUSD and the operations underpinning it.
Cryptocurrency exchange Crypto.com has delisted Tether (USDT) from its platform in a move that is being linked to upcoming Markets in Crypto-Assets (MiCA) regulation in Europe.
This action has brought renewed attention to the regulatory scrutiny that stablecoins are facing, and it could pave the way for compliant substitutes to expand their share of the stablecoin market.
One potential substitute that stands to benefit from this development is Ripple’s RLUSD, a stablecoin that is fully compliant and meets the highest regulatory standards.
RLUSD is also uniquely integrated with XRP, which is used as an auto-bridge currency in every RLUSD transaction. This integration gives XRP a key role in facilitating liquidity and ensuring efficient cross-border payments.
In other news, XRP’s trading volume on decentralized exchanges (DEXs) has seen a massive surge, with a 500% increase in DEX volume being reported by Ripple CEO Brad Garlinghouse.
This surging trading volume indicates increasing adoption of XRP in DeFi by investors, who are showing a preference for DEXs over centralized exchanges (CEXs).
Institutions are also showing interest in issuing RLUSD, which could drive demand for XRP’s bridging capabilities and increase its value.
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