EddieJayonCrypto

 10 Aug 24

tl;dr

Fintech firm Ripple has initiated testing of its new stablecoin, Ripple USD (RLUSD), on its own blockchain and Ethereum. The stablecoin aims to meet global demand for stable digital assets and facilitate cross-border payments. However, it has not yet received regulatory approval and is not available...

Ripple, the fintech firm, has begun testing its new stablecoin, Ripple USD (RLUSD), on its own blockchain and Ethereum. The stablecoin aims to meet global demand for stable digital assets and facilitate cross-border payments. However, it has not yet received regulatory approval and is not available for purchase or trading. Ripple plans to expand the asset to additional blockchains and decentralized finance protocols in the future.

This move comes on the heels of Ripple's recent legal victory against the SEC in a lawsuit regarding the sale of unregistered securities in the form of XRP, resulting in a significantly reduced fine of $125 million.

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