Ripple Labs Inc. Launching RLUSD Stablecoin
Ripple Labs Inc. has chosen the ticker RLUSD for its upcoming stablecoin, as confirmed by the Justia Trademarks database. The application for registration was filed on May 7, 2024, signaling the company’s entry into the stablecoin market. The new asset is expected to provide various financial services and will be backed by fiat currency.
Ripple’s Plans for RLUSD
Ripple’s decision to launch RLUSD aligns with its goal to capitalize on the projected $3 trillion stablecoin market. In April 2024, the company announced its intention to establish a strong presence in this rapidly growing sector. The new stablecoin is set to enhance Ripple’s payment solutions, particularly for cross-border transactions, offering a valuable addition to its existing services.
RLUSD as a Payment Solution
While specific details and the launch date of RLUSD are yet to be revealed, Ripple CEO Brad Garlinghouse envisions the stablecoin as a key component in improving the company’s payment capabilities. RLUSD is expected to serve as an alternative to XRP, facilitating payments and transfers for Ripple’s clients. The new stablecoin could accelerate the development of Ripple’s services and further strengthen its position in the digital asset market.
