Ripple President Monica LONG noted in her speech on The Scoop that RLUSD will complement XRP in its payment operations, emphasizing that the stablecoin will provide more options for customer transactions. According to her, RLUSD is best suited for users who want to avoid the volatility of the cryptocurrency market and store or trade tokenized USD on-chain.
The Ripple President also noted that RLUSD will attract developers. She insisted that the deployment of RLUSD on the XRPL Ledger will provide developers with use cases, especially in the decentralized finance (DeFi) space, allowing them to build applications with utility and scalability.
Long revealed that Ripple will offer RLUSD through its New York-based Standard Custody license. She insisted that the New York Department of Financial Services ensure the issuance of a 100% backed stablecoin, giving Ripple the regulatory transparency it needs. The Ripple president revealed that RLUSD is operationally ready. However, the payments giant is still waiting for regulatory approval to launch the stablecoin.
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