Ripple Integrates RLUSD Stablecoin to Enhance Cross-Border Payments
Ripple has integrated its stablecoin, Ripple USD (RLUSD), into its cross-border payments system to enhance adoption. Key points include:
- Clients like BKK Forex and iSend are utilizing RLUSD for treasury operations.
- Kraken has listed RLUSD, joining LMAX and Bitstamp in supporting the stablecoin.
- RLUSD entered the market backed by U.S. government bonds after receiving regulatory approval from New York's Department of Financial Services.
- The stablecoin's market capitalization reached $244 million, an 87% increase in one month, with a monthly transfer volume of $860 million.
- Ripple’s SVP stated that RLUSD's growth is surpassing internal projections, with plans to assist NGOs in efficient aid distribution.