Ripple Labs Ready To Launch 80,000 RLUSD, Here's The Leak!

Ripple Labs is ready to launch 80,000 RLUSD (Photo; Doc. Coinmarketcap)

JAKARTA - Ripple Labs Inc., a leading blockchain company from the United States, has just scored 80,000 RLUSD as part of their new stablecoin intensive trial. This move further strengthens speculation among the crypto community about the official launch time of the RLUSD which many expect. With the approaching end of the year, expectations for the launch of this stablecoin are increasing, especially after a statement from Ripple President Monica Long, indicating that RLUSD is scheduled to launch this year.

Over the past few weeks, Ripple has increased its RLUSD stablecoin printing activity on the XRP Ledger (XRPL) and Ethereum (ETH) networks. To date, more than 1.8 million RLUSDs have been printed on the RLUSD treasury. However, Ripple has not provided certainty about when the next stage of this test will begin.

Quoted from Coingape, Ripple President Monica Long, previously stated that RLUSD is scheduled to launch this year. With only about three months remaining before the end of the year, expectations are increasing. Long also stressed that Ripple needed approval from the United States Securities and Exchange Commission (SEC) before the launch of this stablecoin could be implemented.

In the context of regulation, the SEC has tightened its oversight of the crypto market, including the handling of cases against TrueUSD stablecoin publishers for allegedly offering unregistered securities. Ripple itself has just completed a long legal battle with the SEC, so the company is trying to ensure all compliance measures are met before the launch of the RLUSD.

According to Monica Long, RLUSD stablecoins will play an important role in transaction settlements, which is at the heart of Ripple's business. These stablecoins are designed to provide more efficient payment solutions across blockchain networks, with the aim of strengthening Ripple's position in the global digital finance industry.

Although Ripple has a strong track record as a blockchain payment solution provider, RLUSD's launch is faced with increasingly fierce competition. In the stablecoin market, Tether (USDT) and Circle's USDC still dominate. In addition, new competitors such as Paypal with PYUSD stablecoins are also starting to strengthen their position.

In addition, Revolut, a fintech company from England, is also exploring its own stablecoin launch, although details about the project are still unclear. Competition in the stablecoin sector is expected to be more dynamic, especially with the entry of new players who bring innovation and advanced payment technology.