Ripple CEO Brad Garlinghouse made a significant announcement that could be a game-changer for XRP. During the XRP Ledger Community Summit (XRPL Apex) in Amsterdam, Ripple unveiled its latest development – a new stablecoin called Ripple USD (RLUSD). This stablecoin, backed by the US dollar at a 1:1 ratio, will first be available on the XRP Ledger and Ethereum platforms.
Garlinghouse referred to the stablecoin as RLUSD, or Real USD, and emphasized its role in complementing the broader XRP ecosystem. However, he did not disclose the exact launch date, with the company’s official account hinting at a release later this year.
In addition to the stablecoin, RippleX, the company’s development arm, introduced the XRPL EVM Sidechain. This sidechain is designed to bring Ethereum Virtual Machine (EVM) compatibility to the XRP Ledger (XRPL), opening up new possibilities for developers in areas such as DeFi and real-world asset tokenization.
The XRPL EVM sidechain will be linked to the XRPL mainnet through a bridge using wrapped XRP (eXRP) as the native asset and gas token. This move aims to expand the capabilities of the XRP Ledger and create more opportunities for innovation in the cryptocurrency space.
Please note that this information is not investment advice. If you are interested in investing in over 300 cryptocurrencies, you can sign up with Binance exchange and receive a 20% commission discount through this link. Stay updated with exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.
