Ripple has announced that it is preparing to launch its RLUSD stablecoin for instant cross-border payments. As per the announcement, Ripple is gearing up to compete in the highly competitive market currently led by Tether’s USDT and Circle’s USDC.

The idea of a stablecoin, named RLUSD, was introduced by the company at Amsterdam’s XRP Ledger Community Summit (XRPL Apex). Although no official launch date was provided, a 2024 release was hinted. As the company progresses towards this launch, it has created a dedicated website for the stablecoin project.

Ripple aims to utilise blockchain technology via the XRP Ledger to streamline cross-border transactions. This new website has generated significant excitement within the XRP community. Pegged to the USD dollar, the RLUSD stablecoin is expected to play a pivotal role in the crypto industry, offering users a cost-effective and rapid option for cross-border payments.

Initially, RLUSD will be available on both the XRP Ledger and Ethereum, thus integrating into different ecosystems. Despite the excitement about this expansion, some legal experts caution that the launch of RLUSD might invite new legal challenges. The launch of the website and the anticipated release of RLUSD suggest that Ripple is hopeful for a favorable outcome in the ongoing Ripple v.

SEC lawsuit. While Ripple and some legal experts are optimistic about winning the XRP lawsuit, there are warnings that the SEC might target the fintech company over the launch of RLUSD. Other developments from Ripple Ripple joined forces with the National Federation of Associations of Central Bank Servers (Fenasbac) to augment the Brazilian fintech landscape.

This collaboration would be executed through the Next accelerator programme, designed to support the development of scalable financial services leveraging blockchain technology, particularly the XRP Ledger. This partnership comes on the heels of Ripple launching a fund in Brazil aimed at supporting projects using the XRP Ledger. .