Ledger Live just announced its support for Ripple USD, or RLUSD. Ripple is going to soon issue stablecoin, and early integration would put Ledger in direct positioning to offer RLUSD far ahead of its release into actual markets.
What does this mean for Ripple?
This makes transactions easier with stablecoins, increases liquidity, and attracts wider institutional investment via this introduction of RLUSD into Ledger Live, using XRP as an autofiat bridge asset. It seems to be a giant step in strengthening the ripple ecosystem and moving further into the stablecoin game.
RLUSD in the Pre-Launch Phase
Although the new RLUSD is already integrated into Ledger Live, the stablecoin has not come out of its beta testing yet and is not trading live. As of late September of 2024, Ripple has performed mainnet testing on both the XRP Ledger commonly referred to as XRPL and on the Ethereum network. It had issued and minted tokens across the networks involved in the beta runs. It will test that the RLUSD will meet necessary benchmarks for transparency and stability.
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Currently in case of failure of adding Ledger to the RLUSD, the support team recommends the user to sync their device manually, which will refresh the networking and should then be good to add a token-even in its beta phase.
Ripple has already stated that the RLUSD will be a fully collateralized 1:1 with US dollar reserves or cash equivalents and will have a stable value of issue. The latter is expected to debut officially at the tail-end of 2024, after going through the regulation process.
As the official launch of RLUSD approaches, the tie-up with Ledger Live would be part of this strategic effort to make Ripple’s stablecoin available to a wider audience base. The combination of liquidity, compliance, and transparency places RLUSD on a high pedestal to become one of the larger players in the stablecoin market.
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