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Ripple News: Ripple Debuts RLUSD Stablecoin To Challenge Market Leaders

October 15, 2024

Ripple Unicorn News - October 15, 2024

Ripple has launched a new stablecoin, RLUSD, pegged to the U.S. dollar, aiming to compete with established players like Tether and USD Coin. The stablecoin is backed by U.S. dollar deposits and government bonds, with enhanced governance features including the appointment of former FDIC chair Sheila Bair to its advisory board.

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( 00:00:33 ) Ripple Launches New Stablecoin, Aiming to Disrupt Dominant Market Players

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Ripple has introduced a new stablecoin, RLUSD, which is pegged to the U.S. dollar, marking a notable advancement in the cryptocurrency sector. This launch is poised to challenge the current market leaders, Tether and USD Coin, in the stablecoin arena. RLUSD will be available on a variety of prominent cryptocurrency platforms, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Ripple has taken measures to ensure that RLUSD is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents, aiming to offer a secure and dependable asset for its users. To further bolster the governance and regulatory compliance of RLUSD, Ripple has appointed Sheila Bair, the former chair of the Federal Deposit Insurance Corp, to its advisory board. This strategic appointment reflects Ripple's dedication to upholding high standards of trust and regulatory compliance, positioning RLUSD to potentially capture a significant portion of the stablecoin market with its emphasis on security, reliability, and robust governance.

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