Ripple Labs CTO on the New RLUSD Stablecoin
Ripple Labs CTO David Shwartz has once again weighed in on the company’s latest product, the RLUSD stablecoin that went live earlier this week. In a video message shared by the firm’s official X account, David Schwartz said the Ripple USD offers the right use cases that can benefit users and developers. The tech veteran confirmed that this stablecoin a credible asset designed to showcase the potentials of the XRP Ledger.
RLUSD Stablecoin – The Perks
As Schwartz noted, the stablecoin drives both direct and indirect benefits within the XRPL ecosystem. One direct benefit is that it drives positive trading volume which natively uses XRP as a bridge asset. He noted that the unique features of the XRP is that it can support all kinds of assets to broaden the accessibility of the Decentralized Exchanges on XRPL.
The Ripple CTO said XRP and RLUSD will complement each other because of the unique differences between both assets. He said the blockchain payments firm will continue to use XRP as a bridge current in its proprietary product.
Ripple USD Stablecoin, Here are The Latest Stats
The RLUSD stablecoin went live this week, marked by mild volatility on global exchanges like Uphold and Bitso. With a starting price around $1.15, the stablecoin quickly maintained its intended peg to the US Dollar at a 1:1.
Notably, the launch of the token forced a lot of intense XRP whale activities, most of which have normalized. Per data from XPMarkets, RLUSD currently has a total supply of 19.1 million with a market cap of $4.6 million.
A total of 6,600 traders now hold the stablecoin amid a fully diluted market cap of $19 million.
Conclusion
In conclusion, the RLUSD stablecoin is a significant addition to the XRP ecosystem, offering a credible asset designed to showcase the potentials of the XRP Ledger. With its unique features and benefits, the stablecoin is poised to drive growth and adoption within the XRPL ecosystem.
FAQs
Q: What is the RLUSD stablecoin?
A: The RLUSD stablecoin is a new stablecoin launched by Ripple Labs, designed to showcase the potentials of the XRP Ledger.
Q: What are the benefits of the RLUSD stablecoin?
A: The stablecoin drives both direct and indirect benefits within the XRPL ecosystem, including driving positive trading volume and broadening accessibility to Decentralized Exchanges.
Q: How much is the total supply of RLUSD?
A: The total supply of RLUSD is 19.1 million.
Q: What is the current market cap of RLUSD?
A: The current market cap of RLUSD is $4.6 million.
Q: How many traders hold RLUSD?
A: A total of 6,600 traders currently hold RLUSD.
