30s Summary

Ripple plans to launch its stablecoin, Ripple USD (RLUSD), in partnership with Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Ripple aims for RLUSD to become the preferred choice for large businesses. The company’s payment solution will use RLUSD along with Ripple’s crypto token, XRP, to allow quicker, more affordable international transactions. Stablecoins, which meet regulatory standards, could prompt more global use of crypto.

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Ripple is getting ready to launch its new stablecoin, Ripple USD (RLUSD), and it’s teamed up with several crypto exchanges to make it happen. Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish are all on board to help spread the RLUSD around.

Ripple’s big ambition is for its new stablecoin to become the top choice for big businesses. Ripple CEO Brad Garlinghouse said in October that their clients and partners want high-quality stablecoins they can use for various financial activities, such as for payments, or tokenizing real-world assets and even decentralized finance.

Garlinghouse added that Ripple’s payment solution will use RLUSD and Ripple’s own crypto token XRP to make faster, cheaper cross-border payments possible.

Stablecoins are a useful bridge between traditional money and crypto. If more stablecoins that meet regulatory standards are issued, this could lead more people worldwide to use crypto.

Source: Cointelegraph