Ripple (XRP) Announces Strategic Partnership to Expand the Reach of Its Fiat-Backed Stablecoin, Ripple USD (RLUSD)

The collaboration with Revolut, a London-based fintech company, and Zero Hash, a Chicago-based financial infrastructure provider, aims to expand the reach of RLUSD and challenge the market dominance of other stablecoins like USDT and USDC.

Ripple USD (RLUSD) stablecoin is now available for trading on Revolut and Zero Hash, expanding its accessibility.

RLUSD aims to challenge the market dominance of other stablecoins like USDT and USDC.

The partnership will enhance the integration of RLUSD into various markets, leveraging the extensive networks of both Revolut and Zero Hash. Revolut boasts over 50 million customers globally, while Zero Hash is known for its robust financial infrastructure services. This collaboration will enable broader adoption of RLUSD on the XRP Ledger and Ethereum networks.

Edward Woodford, Founder and CEO of Zero Hash, commented on the partnership, highlighting their commitment to providing customers with access to the most innovative and regulated stablecoin technologies.

RLUSD has shown substantial growth since its launch, boasting a fully diluted valuation of over $108 million and an average 24-hour trading volume of approximately $207 million. Despite its promising start, RLUSD faces stiff competition from established stablecoins like Tether (USDT) and Circle's USD Coin (USDC), which currently dominate the market.

However, these strategic partnerships are expected to boost RLUSD's user base and enhance its market presence. These collaborations will facilitate easier access to RLUSD for a diverse range of users, including individual traders and institutional investors.

The integration of RLUSD with Revolut and Zero Hash is also anticipated to have long-term positive effects on the XRP Ledger's on-chain activity. Increased usage of RLUSD will likely drive up demand for XRP, the native cryptocurrency of the XRPL.

With these partnerships, Ripple is positioning RLUSD as a competitive alternative to existing stablecoins, highlighting its technological capabilities and extensive network of partners. The company's focus on regulatory compliance and innovation will likely play a crucial role in RLUSD's future success.