The regulator may give the green light to the launch of a dollar-pegged stablecoin in the coming days, and the launch of the tokens itself will take place on December 4. Previously, Ripple management promised that RLUSD would be an “over-collateralized” stablecoin, meaning that the company’s accounts would hold more US dollars than tokens issued.
“There is a clear demand for stablecoins that provide trust, stability, and are used for a variety of purposes. Following the launch of RLUSD, Ripple will use both RLUSD and XRP for cross-border payments to significantly improve the user experience for its customers,” Ripple said in a statement.
Currently, the stablecoin market capitalization is $196 billion, but Ripple management expects the figure to grow to $2 trillion by 2028, so the company is trying to “take its place in the sun” early. Ripple has also stated that it conducts regular third-party reserve audits for RLUSD.
Previously, Ripple CTO David Schwartz said that RLUSD would not be available to private investors.
Source: Bits
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