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Ripple has partnered with Chainlink to enhance the functionality of its RLUSD stablecoin within decentralized finance (DeFi) applications. This collaboration will utilize Chainlink’s price feeds on Ethereum and the XRP Ledger, ensuring accurate, tamper-proof data to support cost-effective transactions.Pegged 1:1 to the US dollar, RLUSD aims for a $2 trillion market cap by 2028, targeting institutional players. Ripple has also enlisted several exchanges for distribution and appointed notable figures to its advisory board to bolster the stablecoin's operations.
Ripple's RLUSD stablecoin has been listed on Singapore's Independent Reserve, marking a significant step in its expansion within the competitive stablecoin market. Backed 1:1 by U.S. dollar reserves, government bonds, and cash equivalents, RLUSD aims to address financial inclusion gaps and enhance liquidity through partnerships with global exchanges. The formation of a high-profile advisory board, including figures like Sheila Bair and Raghuram Rajan, underscores Ripple's commitment to regulatory compliance and innovation in the digital asset space.
Ripple has appointed Raghuram Rajan, former Governor of the Reserve Bank of India, to its RLUSD stablecoin advisory board, which also includes notable figures like Sheila Bair and David Puth. Rajan's expertise in central banking and financial regulation is expected to enhance the stablecoin's compliance and credibility in a rapidly evolving financial landscape. His insights, alongside those of other board members, aim to ensure RLUSD's sustainable growth and trustworthiness in digital payments.
Ripple's long-awaited stablecoin, RLUSD, is set to launch on December 17, following approval from the NYDFS. The asset will be available for trading on platforms like MoonPay, Bitso, and CoinMENA, and has already positively influenced XRP's price, rising from $2.38 to $2.48. The stablecoin's advisory board includes notable figures such as Raghuram Rajan and Kenneth Montgomery.
Ripple's new stablecoin, Ripple USD (RLUSD), will debut for global trading on December 17, following approval from the New York Department of Financial Services. Backed 1:1 by US dollar deposits and short-term government securities, RLUSD aims to enhance cross-border payments and integrate with decentralized finance protocols.Key appointments to its advisory board include former Reserve Bank of India governor Raghuram Rajan and former Federal Reserve Bank of Boston COO Kenneth Montgomery, who will guide the stablecoin's regulatory and operational strategies.
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