Ripple $2.3 Labs CTO David Schwartz made statements about the company’s new product, RLUSD stablecoin. RLUSD was launched this week, and in a video message shared from Ripple’s official X account, Schwartz stated that Ripple USD has suitable use cases for users and developers. The tech expert confirmed that this stablecoin is a reliable asset designed to demonstrate the potential of XRP Ledger.
RLUSD Stablecoin – Advantages
Schwartz stated that the stablecoin provides direct and indirect benefits within the XRPL ecosystem. He noted that as a direct benefit, XRP increases trading volume by using it as a bridge asset. He added that thanks to XRP’s unique properties, Decentralized Exchanges on XRPL can expand its accessibility.
Ripple CTO said that XRP and RLUSD will complement each other because both assets have unique differences. He stated that the blockchain payments firm will continue to use XRP as a bridge currency in its proprietary product.
Ripple USD (RLUSD) was introduced as a stablecoin with full support to the XRP Ledger. RLUSD increases functionality for developers on XRPL.
The RLUSD stablecoin was launched this week and has fluctuated slightly on global exchanges such as Uphold and Bitso. With an initial price of around $1.15, the stablecoin has largely maintained its 1:1 ratio to the US dollar.
The token’s launch led to an intensification of XRP whale activity, most of which has returned to normal levels. According to XPMarkets data, the total supply of RLUSD currently stands at 19.1 million.
Role of RWA and RLUSD
Schwartz highlighted the future of the Real World Assets (RWA) tokenization market. He stated that RWA will continue to grow and the demand for stablecoins will increase, with RLUSD dominating this space. He stated that XRP Ledger can be easily integrated into this new system thanks to its speed and low cost.
As a result, the tech expert said that the RLUSD stablecoin will continue to benefit from this ecosystem structure.
Ripple’s new stablecoin RLUSD aims to strengthen the ecosystem by offering various advantages to XRP and XRPL developers.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
