Ripple Labs, a leading blockchain payment company focused on revolutionizing cross-border transactions with XRP Ledger (XRPL), has inked strategic partnerships to enable the mainstream adoption of its recently launched fiat-backed stablecoin, Ripple USD .
In a bid to democratize the adoption of the RLUSD, Ripple Labs announced a strategic partnership with Revolut, a London-based multinational neo-bank and fintech company, and Zero Hash, a Chicago-based financial infrastructure provider that helps seamlessly move funds globally for its clients.
Through the strategic partnerships, Ripple Labs’ RLUSD will be listed for seamless trading in different markets. Both Revolut and Zero Hash customers can now access RLUSD on both XRPL and Ethereum (ETH) networks.
“The addition of RLUSD to our ecosystem demonstrates Zero Hash’s commitment to providing our customers with access to the most innovative and regulated stablecoin technologies […] Zero Hash now offers RLUSD to all partners who can seamlessly embed through our API and SDK. Zero Hash offers the tech stack that powers use cases spanning payouts including Stripe, on-ramping including Shift4, and tokenization payment rails including Franklin Templeton,” Edward Woodford – Founder and CEO at Zero Hash, noted.
According to coinspeaker.com, Ripple USD (RLUSD) has grown to a vibrant fiat-backed stablecoin, with over $108 million in fully diluted valuation and a 24-hour average trading volume of about $207 million. However, the RLUSD has a long way ahead to compete with the well-established stablecoins led by Tether USDT and Circle’s USDC, which currently control 90 percent of the USD stablecoins market.
RLUSD is designed to meet the growing demand for a reliable, compliant stablecoin in the digital asset space. Key features1 of RLUSD include: (i) One-to-one backing with US dollars held in reserve; (ii) issuance by a New York State-regulated trust company; (iii) Monthly reserve attestations by an independent certified public accountant; and, (iv) native issuance on both the XRP Ledger and Ethereum networks.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
