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Reading: Ripple RLUSD Stablecoin Launches on Independent Reserve Exchange in Singapore
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COINTURK NEWS > Ripple (XRP) > Ripple RLUSD Stablecoin Launches on Independent Reserve Exchange in Singapore
Ripple (XRP)

Ripple RLUSD Stablecoin Launches on Independent Reserve Exchange in Singapore

In Brief

  • Ripple RLUSD stablecoin launches on Independent Reserve in Singapore.

  • XRP price increases to $2.24 following the stablecoin's listing.

  • Stablecoin enhances cross-border payment capabilities and DeFi compatibility.

İlayda Peker
İlayda Peker 5 months ago
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Ripple’s RLUSD stablecoin has been listed on the Independent Reserve exchange based in Singapore. This marks the first time a stablecoin has appeared on a regulated exchange in Singapore, generating significant interest in the cryptocurrency market. Following this development, the price of XRP increased by 3%, reaching $2.24.

Contents
Ripple RLUSD Supports Dual Networks of XRP Ledger and EthereumXRP Price and Market Response

Ripple RLUSD Supports Dual Networks of XRP Ledger and Ethereum

Independent Reserve announced that Ripple $2 RLUSD can be traded on both the order book and OTC desk. Ripple RLUSD is available with dual issuance on the XRP Ledger and Ethereum $2,513 networks. This structure enhances the stablecoin’s compatibility with DeFi applications and facilitates its use in cross-border payments. The stablecoin, which maintains a one-to-one value against the US dollar, is gaining attention as a reliable payment tool.

Lasanka Perera, CEO of Independent Reserve Singapore, emphasized the stablecoin’s contribution to global liquidity. Perera stated, “We are proud to present RLUSD as part of our collaboration with Ripple. This step demonstrates our commitment to secure cryptocurrency services on regulated platforms.”

XRP Price and Market Response

With the listing of Ripple RLUSD, both the price and trading volume of XRP increased. XRP’s value rose by 3% to reach $2.24, with a 24-hour peak of $2.27. Additionally, XRP Futures Open Interest saw a 6% increase. The continued accumulation of XRP by large players supports the adoption of the stablecoin.

The listing of Ripple RLUSD on the Independent Reserve exchange underscores Singapore’s significance in the cryptocurrency market. Ripple’s new stablecoin offers a reliable option for investors while positively impacting XRP’s market value. The stablecoin holds potential for greater global adoption.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 24 December, 2024 - 11:44 pm 24 December, 2024 - 11:44 pm
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