ZeroHash and Revolut are the first trading platforms to launch Ripple’s new stablecoin, RLUSD. This step towards the XRP ecosystem is expected to be effective and help people to buy, sell and use stablecoin in a simple way.
What is RLUSD?
RLUSD is a stablecoin, and basically it has the same price as one US dollar. It is fully backed with cash and cash equivalents and hence is a safe option for crypto traders. Unlike other cryptocurrency RLUSD are intended to be stable.
Ripple’s RLUSD stablecoin is built on two major blockchain networks:
- XRP Ledger
- Ethereum
Why is This Important?
This allows more people to access and use the stablecoin by adding it to ZeroHash and Revolut. LL floating token RLUSD will be supported by Revolut, a popular financial technology company, and ZeroHash, which offers crypto services, to cater a global audience.
The addition of RLUSD demonstrates Zero Hash’s commitment to supporting regulated and cutting edge crypto products, stated Zero Hash CEO Edward Woodford.
What’s Next for Ripple?
Ripple is actually making every effort to increase availability of RLUSD. The stablecoin is also available on Bitstamp, Uphold, Bullish, Independent Reserve, Moonpay, Bitso, and Coinmena.
Meanwhile, Ripple’s Chief Legal Officer Stuart Alderoty is certain the US crypto space is on the path to the right thing under new policies. In fact, the government is even proposing that they create a Strategic Bitcoin Reserve to stoke the US dollar.
Ripple realizes the potential growth for RLUSD and so does the popularity of this crypto. There may be more listings and new updates soon!
Also read: Bitcoin Whales are Buying Undervalued Crypto: Market Reset or Correction?
