Stablecoin

Real USD

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<ul>
 <li>Ripple CEO Brad Garlinghouse introduced ‘Real USD’, Ripple’s stablecoin.</li>
 <li>‘Real USD’, pegged to the USD, intends to ensure stability in the crypto market.</li>
 <li>Regular third-party audits for $RLUSD reserves assure transparency in Ripple’s stablecoin operations.</li>
</ul>
<p>The CEO of <a href="https://ripple.com/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a>, Brad Garlinghouse, has revealed the name of the company’s upcoming stablecoin, ‘Real USD,’ during the XRP Ledger Community Summit in Amsterdam.&nbsp;</p>
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   <p lang="en" dir="ltr">Real USD <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Ripple CEO drops the new Stablecoin Name “Real USD” <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>The name of the <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a> stablecoin, the <a href="https://twitter.com/search?q=%24RLUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$RLUSD</a>, I like to call it Real USD… Ripple USD’ – Brad Garlinghouse (<a href="https://twitter.com/bgarlinghouse?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@bgarlinghouse</a>) at <a href="https://twitter.com/hashtag/XRPLApex?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRPLApex</a> 2024 <br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f499.png" alt="💙" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> <a href="https://t.co/T2CuT1Gdjb" rel="noopener noreferrer nofollow">pic.twitter.com/T2CuT1Gdjb</a></p>— 𝗕𝗮𝗻𝗸XRP (@BankXRP) <a href="https://twitter.com/BankXRP/status/1800822398650081498?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 12, 2024</a>
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<p>Commenting on his preference for the name, Garlinghouse said, ‘I like to call it Real USD, Ripple USD.’ This announcement marks an important moment in Ripple’s journey, as stablecoins like USDC and USDT grow increasingly influential in the world of digital assets.</p>
<p>Garlinghouse indicated that the stablecoin, which is designed to maintain a constant $1, will <a href="https://cryptonewsland.com/ripple-faces-sec-heat-over-stablecoin-launch-announcement/" target="_blank" rel="noopener noreferrer nofollow">become operational later this year</a>. The coin will have a reserve of US dollars, short-term US bonds, and other cash equivalents to back it up.</p>
<p>The token will be distributed on the <a href="https://ethereum.org/en/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> network as well as the XRP blockchain, which Ripple was instrumental in creating. It is still unknown which trading platforms will be used initially for ‘Real USD’.</p>
<p>At present, around 90% of the $153 billion stablecoin market is occupied by stablecoins. This category of cryptocurrencies is designed to reduce volatility by linking its value to another asset, particularly the US dollar. The majority of this dominance is <a href="https://cryptonewsland.com/tether-excess-reserves-surge-to-3-38b-big-win-for-usdt/" target="_blank" rel="noopener noreferrer nofollow">shared by USDC and Tether’s USDT</a>, with more than a hundred competitors fighting for the remaining market share.</p>
<p>As part of its effort to increase openness, Ripple will publish monthly declarations about the reserves of its stablecoin. Garlinghouse emphasized that a third-party accounting firm will perform these declarations.</p>
<p>Stablecoins in Europe will be subject to more regulations starting in July, owing to the new regulatory landscape. Garlinghouse expressed optimism that a stablecoin bill will be approved before the next presidential election, despite the fact that previous attempts to pass such a legislation in the US have failed.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ripple-ceo-brad-garlinghouse-predicts-us-sec-will-lose-war-against-eth/" rel="noopener noreferrer nofollow">Ripple CEO Brad Garlinghouse Predicts US SEC Will Lose War Against ETH</a></li>
 <li><a href="https://cryptonewsland.com/xrp-is-the-next-bitcoin/" rel="noopener noreferrer nofollow">Brad Garlinghouse: “XRP is the Next Bitcoin, Envisioning a $10,000+ Future”</a></li>
 <li><a href="https://cryptonewsland.com/ripple-ceo-brad-garlinghouse-talks-about-ripple-and-xrps-value-use-cases-for-xrp-are-still-being-explored/" rel="noopener noreferrer nofollow">Ripple CEO Brad Garlinghouse Talks About Ripple and XRP’s Value, Use Cases for XRP are Still Being Explored</a></li>
 <li><a href="https://cryptonewsland.com/garlinghouse-assures-xrp-is-core-to-business-as-ripple-announces-victory-party/" rel="noopener noreferrer nofollow">Garlinghouse Assures XRP Is Core to Business as Ripple Announces Victory Party</a></li>
 <li><a href="https://cryptonewsland.com/ripple-ceos-bullish-insights-fuel-xrp-community-anticipation/" rel="noopener noreferrer nofollow">Ripple CEO’s Bullish Insights Fuel XRP Community Anticipation</a></li>
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<p>The post <a href="https://cryptonewsland.com/ripple-ceo-brad-garlinghouse-reveals-stablecoin-name-prepare-to-enter-the-real-usd-rlusd-era/" rel="noopener noreferrer nofollow">Ripple CEO Brad Garlinghouse Reveals Stablecoin Name, Prepare to Enter the Real USD ($RLUSD) Era</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple CEO Brad Garlinghouse Reveals Stablecoin Name, Prepare to Enter the Real USD ($RLUSD) Era

Crypto News Land

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