Lasanka Perera, the CEO of Independent Reserve Singapore, highlighted the significance of this collaboration, noting how RLUSD boosts global liquidity. He remarked on the secure and efficient platform it provides for financial institutions and investors alike. The partnership between Ripple and Independent Reserve illustrates the deep-rooted trust and solid foundation shared by the two organizations.
Since its global launch on December 16, 2024, RLUSD has seen rapid growth across several platforms such as Uphold, MoonPay, CoinMENA, Archax, and Bitso. The introduction of this stablecoin in Singapore is a critical aspect of Ripple’s strategic expansion into the Asia-Pacific region, which is key to its ongoing success.
Backed one-to-one by the US dollar, RLUSD is fully collateralized with fiat reserves and short-term government securities. Ripple is committed to transparency, planning to conduct monthly third-party audits to verify these reserves. The stablecoin’s support for both networks allows Ripple to access Ethereum’s extensive DeFi ecosystem while taking full advantage of the speed and cost benefits that the XRP Ledger offers for international transactions.
The market seems to be reacting positively to RLUSD’s launch. Following the announcement, Ripple’s native token, XRP, climbed 2.94%, reaching $2.30, reflecting a wave of optimism among investors. The increasing interest from institutional partners and XRP whales indicates a bright future for RLUSD and the broader Ripple ecosystem.
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