According to Ripple Labs, the new stablecoin will be backed by US dollars at a 1:1 ratio. There will also be a reserve of fiat currency to ensure the absolute stability of the token. In addition, the company promises to conduct regular audits of the collateral with the help of third-party audit firms.
Ripple Labs representatives noted that RLUSD has already undergone beta testing with the company’s corporate partners. The statement emphasizes that the stablecoin is not yet available on the retail market, and all reports of a real launch are the work of scammers.
Ripple’s top management is confident that the capitalization of stablecoins will reach $2 trillion by 2028, and it looks like the company is going to take a bite out of this pie.
Recall that the other day, the Federal District Court for the Southern District of New York fined Ripple Labs $125 million.
Source: Bits
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