Ripple
August 29, 2024
Unicorn News: The Latest in Digital Assets - August 29, 2024
Ripple has launched its first stablecoin, Ripple USD (RLUSD), to enhance cross-border payments. Additionally, Lemniscap has raised $70 million to invest in early-stage Web3 projects, focusing on the Bitcoin ecosystem and decentralized infrastructure.
() Introduction
() Ripple Launches RLUSD for Cross-Border Payments, Highlighting Stablecoins' Growing Role
() Lemniscap Secures $70M to Invest in Early Stage Web3 Projects
Ripple has announced the testing of its first stablecoin, Ripple USD (RLUSD), which is pegged 1:1 with the US dollar. The initial RLUSD tokens were minted on Ethereum and another unspecified blockchain. Ripple plans to integrate RLUSD into its cross-border payments solution following its recent legal victory against the SEC, marking a strategic move to re-enter the Western enterprise market. Additionally, Lemniscap, an investment firm based in the Cayman Islands, has raised a $70 million fund to support early-stage Web3 projects, focusing on the Bitcoin ecosystem, zero-knowledge infrastructure, consumer applications, and decentralized physical infrastructure. The fund is anchored by Accolade Partners, a New York-based venture capital firm.
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