Bittime - News this time comes from Ripple (XRP). At the XRP Ledger Community Summit (XRPL Apex) held in Amsterdam on June 11-13, 2024, Ripple CEO Brad Garlinghouse officially announced the name of of Ripple's newest stablecoin, $RLUSD.
$RLUSD, Ripple Stablecoin, What Does It Mean?
Brad Garlinghouse is enthusiastic about the name. He even said that he likes to call it Real USD or Ripple USD. The purpose of choosing this clear name is to emphasize the stability of the value of $RLUSD which will be pegged 1:1 with the United States dollar (USD).
Check Today's Crypto Market:
Stablecoins Are Increasingly Popular
The launch of $RLUSD marks Ripple's strategic move to enter the stablecoin space. Stablecoins such as USDC and USDT have previously been popular among crypto investors because they offer stable value, unlike other crypto assets which are volatile. With the presence of $RLUSD, Ripple hopes to provide an attractive alternative for users.
XRP Ledger Utility Improvements
Additionally, the presence of $RLUSD is expected to increase the overall utility and adoption of XRP Ledger. XRP Ledger is a public blockchain developed by Ripple and specifically designed for fast and efficient financial transactions.
With the arrival of $RLUSD, the XRP Ledger now has a stablecoin that can be used for various purposes, such as international transfers, cross-border payments, and crypto trading.
Also Read How to Buy Crypto:
Response from the Crypto Community
While the announcement of $RLUSD was welcomed by most of the crypto community, there were also those who questioned the uniqueness of the name. Some argue that the name $RLUSD is not much different from the names of existing stablecoins, such as USDC and USDT.
However, it is hoped that the presence of $RLUSD will trigger healthy competition among stablecoin providers, so that it will ultimately benefit crypto users. Let's wait for further developments regarding the official launch date of $RLUSD and how $RLUSD will be adopted by the crypto community.
Check Crypto Prices Today:
How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Ripple Coin (XRP): An Update 2024
Ripple Stablecoin: Everything You Need to Know is Here
Is an XRP ETF Launching Soon? This is what the CEO of Ripple said
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.