Ripple’s RLUSD stablecoin is making significant strides as it launches on Kraken and integrates into the company’s payment platform.
The move comes as the stablecoin market heats up, with U.S. lawmakers seeking regulatory clarity and adoption increasing across the globe. Ripple has positioned its RLUSD token for expanded use, aiming to build on its growing market cap, which now exceeds $240 million since its debut in December.
RLUSD is already in use for cross-border payments within Ripple’s flagship payments solution. The token is helping clients like BKK Forex and iSend optimize their cross-border treasury operations. Ripple plans to allow more customers to access RLUSD on its platform, further pushing its adoption and functionality. Ripple’s senior vice president of stablecoins, Jack McDonald, pointed out that RLUSD is also being used as collateral in both crypto and traditional financial markets, signaling growing demand.
As stablecoins gain prominence, lawmakers in the U.S. are gearing up to vote on stablecoin regulations, making the regulatory landscape increasingly important for market players. Meanwhile, global stablecoin usage continues to rise, with Tether’s USDT maintaining its dominance. As the market matures, major financial institutions, including Bank of America, may follow Ripple’s lead by launching their own stablecoins.
The launch of RLUSD on Kraken is part of Ripple’s strategy to provide innovative solutions in the evolving payments space. With the global interest in stablecoins surging and regulatory clarity on the horizon, Ripple is poised to expand its influence and remain a key player in the digital asset ecosystem.
Author
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
