Stablecoin

The post RLUSD Unveiled: Ripple’s Bold Move into the $3 Trillion Stablecoin Market appeared first on Coinpedia Fintech News Ripple has confirmed the launch of a new stablecoin, RLUSD, on both the XRP Ledger and the Ethereum main chain. This move, announced by Ripple CTO David Schwartz recently, aims to meet the growing demand for stablecoins and leverage Ripple;s expertise in cross-border payments. Read on to find out how this launch could shape the future of the stablecoin market and…

Tether has launched a new gold-backed stablecoin, aUSDT, on its Alloy platform, allowing users to mint the synthetic dollar through over-collateralization. Tether’s aUSDT facilitates transactions without selling gold-backed assets and is part of a broader trend of synthetic dollars, following similar launches by Galoy and Ethena Labs. In a massive move, the world’s largest stablecoin issuer Tether unveiled its gold-backed stablecoin pegged to the synthetic dollar. This new synthetic dollar has been created on Tether’s new platform Alloy and it…

Ripple is set to launch its own stablecoin, Ripple USD (RLUSD), in 2024, available on both the XRP Ledger and Ethereum networks. In the Ripple vs. SEC lawsuit, the SEC has defended its proposed penalties, citing a comparison with the Terraform Labs settlement. As Ripple Inc. continues its legal battle with the U.S. Securities and Exchange Commission (SEC), it also continues to remain focused on other growth verticals for the company. One such area is that Ripple is preparing to…

The post Ripple Unveils RLUSD: A New Stablecoin on XRPL and Ethereum appeared first on Coinpedia Fintech News Ripple has officially introduced its upcoming stablecoin, which will be named Ripple USD (RLUSD), a significant milestone in its strategic expansion. This announcement comes following enthusiastic speculation and teases from the crypto community. RLUSD is supported 1:1 by U.S. dollars, and aims to provide its users a stable as well as a transparent store of value. This stablecoin shall be available on…

Ripple plans to launch its USD-backed stablecoin to compete with existing ones like USDT and USDC. Dubai’s favorable regulatory environment is key to Ripple’s strategy and expansion in the Middle East. In a recent interview, Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted the company’s intentions to launch a new USD-backed stablecoin. Merrick pointed to the burgeoning stablecoin market and Ripple’s readiness to contribute significantly to this space. He cited the regulatory environment in Dubai as…

The post Ripple Explains The Significance Of Its Stablecoin Launch  appeared first on Coinpedia Fintech News In a recent interview, Ripple’s Middle East and Africa Managing Director, Reece Merrick, appeared to be confident as he explained why he believes Ripple’s plans on creating and launching its native Stablecoin will be successful, given that the USD-backed Stablecoins USDT and USDC have already made their mark in the market.  Merrick particularly spoke of the sector he is in charge of, part of…

Paxos International, the international arm of Paxos, is issuing a US dollar-pegged, interest-bearing stablecoin called the Lift Dollar (USDL).  The USDL stablecoin will be regulated in the Abu Dhabi Global Market (ADGM) and pay yield on the interest earned by Paxos International on the reserves backing the stablecoin.  An Interest-Bearing Stablecoin USDL will be backed 1:1 by liquid US Government Securities and cash equivalent reserve assets being held per the requirements of the ADGM’s Financial Services Regulatory Authority. Paxos International…

Paxos has introduced the Lift Dollar (USDL), a stablecoin backed by the US dollar that offers users on-chain yield from US Treasury bonds automatically and daily. It’s offered by a Dubai-based entity but is not available in regions where regulators are keen on investor protection, including the US, the UK, the EU, Singapore and Hong Kong. Paxos, a New York-based blockchain and crypto services firm, has unveiled a new stablecoin that allows users to earn yield daily. The company announced…

PayPal has announced that its PYUSD stablecoin is launching on the Solana blockchain as it prepares to offer faster and cheaper transactions. On the Solana blockchain, the stablecoin can expand its adoption for commerce and payments. During the Consensus 2024 in Austin, Texas, PayPal announced that its PYUSD stablecoin is now available on the Solana blockchain. According to the announcement, PYUSD on Solana will be issued by its partner, Paxos Trust Company. The expansion to the smart contract platform marks…