Will Ripple launch its RLUSD stablecoin today? Learn more here

• Ripple is all set to launch its United States dollar-pegged stablecoin Ripple USD (RLUSD).
• According to Fox Business, Ripple is expected to launch RLUSD on December 4.
• RLUSD is pegged 1:1 to the U.S. dollar and fully backed by dollar reserves, short-term U.S. Treasury securities, and cash equivalents.

Ripple is all set to launch for the launch of a unique product that will take the stablecoin market by storm. After its successful court win against the U.S. SEC, Ripple is all set to launch its United States dollar-pegged stablecoin Ripple USD (RLUSD). The launch, which is anticipated in a day or so, is going to be the biggest event of the December month.

According to Fox Business, Ripple is expected to launch RLUSD on December 4, following approval by the New York Department of Financial Services.

What is RLUSD?

Ripple’s RLUSD is pegged 1:1 to the U.S. dollar and fully backed by dollar reserves, short-term U.S. Treasury securities, and cash equivalents. Following approval from the New York Department of Financial Services (NYDFS), RLUSD is poised to redefine institutional stablecoin use cases.

Read More: XRP Price Prediction: Will the XRP touch $10 by the end of 2024?

Initially, it will launch on Ripple’s XRP Ledger (XRPL) and the Ethereum mainnet, with plans for broader adoption across additional blockchains and decentralized finance (DeFi) ecosystems. Preview listings of the token have already appeared on major cryptocurrency platforms like CoinGecko and CoinMarketCap, heightening the market’s expectations.

Seeing the anticipation, Ripple has urged users to remain vigilant against fraudulent tokens ahead of its official announcement. The company is taking proactive measures to ensure the stablecoin’s secure and compliant rollout.

RLUSD: A Catalyst for XRP

Ripple envisions RLUSD as a complementary asset to XRP, its flagship cryptocurrency. The pairing is expected to bolster liquidity and stabilize RLUSD’s price by mitigating the risks of depegging. Ripple has stated that both assets will play pivotal roles in its cross-border payment solutions, aiming to serve a global clientele with enhanced efficiency and reliability.

XRP’s market resurgence, recently reclaiming its position as the third-largest cryptocurrency by market capitalization, underscores the synergy between these two assets. Ripple CEO Brad Garlinghouse has clarified that RLUSD will primarily cater to institutional players, capitalizing on the growing demand for compliant and secure stablecoins.

Targetting institutional players

Although RLUSD is institution-focused, some users have reported early availability of the stablecoin on self-custodial wallets like Xaman, suggesting a broader adoption trajectory over time.

With its imminent launch, Ripple is set to reshape the stablecoin market by delivering a product that balances innovation with compliance. By leveraging its expertise and established infrastructure, Ripple aims to position RLUSD as a cornerstone for institutional-grade financial solutions, while enhancing XRP’s ecosystem and liquidity.