Ripple has successfully launched its RLUSD stablecoin on the Root Network, marking a significant expansion in liquidity and accessibility for the metaverse-focused blockchain.
The Root Network confirmed the integration via an official announcement, enabling users to buy, hold, and trade Ripple USD (RLUSD) seamlessly. This collaboration also unlocks RLUSD on FuturePass, allowing smooth bridging between the Root Network and the XRP Ledger (XRPL).
Enhanced Liquidity and Adoption for RLUSD
The Root Network joins a growing ecosystem supporting RLUSD, which debuted on the XRPL on December 17 following regulatory approval from the New York Department of Financial Services (NYDFS). Key developments include:
- Exchange Listings: Initial support from Archax, Bitso, CoinMENA, MoonPay, and Uphold.
- Multi-Chain Availability: RLUSD is now accessible on Ethereum, broadening its DeFi utility.
- Recent Partnerships: Ripple’s collaboration with Chainlink aims to enhance RLUSD’s appeal to decentralized finance protocols.
👉 Explore RLUSD’s latest integrations
Strategic Partnerships and Future Roadmap
Ripple positions RLUSD as a liquidity complement to XRP in cross-border payments, with plans for wider adoption:
- Tier-1 Exchange Listings: Ripple President Monica Long hinted at imminent launches on platforms like Coinbase and Binance.
- Cardano Collaboration: Cardano founder Charles Hoskinson has teased potential RLUSD integration, praising the XRP ecosystem’s strengths.
RLUSD Market Performance
- Market Cap: Surpassed $53 million (CoinMarketCap).
- Trading Volume: $186 million (24-hour).
- Stability: Maintains a consistent peg to the US dollar.
FAQ
Q: How can I access RLUSD on the Root Network?
A: Users can trade RLUSD directly on the Root Network or bridge tokens via FuturePass.
Q: Which exchanges currently support RLUSD?
A: Archax, Bitso, CoinMENA, MoonPay, Uphold, and Independent Reserve.
Q: Will RLUSD launch on Cardano?
A: Charles Hoskinson has hinted at discussions, but no official confirmation yet.
👉 Stay updated on RLUSD developments
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Conduct independent research before making investment decisions.
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