Ripple Labs’ RLUSD stablecoin: Everything you need to know

December 19, 2024 Coin Telegraph

RLUSD, a stablecoin by Ripple Labs, is pegged to the US dollar, ensuring a 1:1 value backed by cash or equivalents.

RLUSD is a stablecoin developed by Ripple Labs, the organization behind the XRP cryptocurrency. RLUSD, or Ripple Labs USD, aims to offer a stable digital currency for use in transactions and trading.

As a stablecoin pegged to the US dollar, 1 RLUSD is worth $1. The 1:1 peg is maintained with backing for every RLUSD coin. These collateral assets are either US dollar deposits or cash equivalents.

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Ripple USD stablecoin set for trading debut tomorrow

December 16, 2024 Coin Telegraph

Coin Telegraph

Ripple’s RLUSD stablecoin is set for its trading debut on Dec. 17 on platforms including Uphold, MoonPay, Archax and CoinMENA, the company said.

Ripple, the blockchain company behind XRP, confirmed that its Ripple USD (RLUSD) stablecoin will begin trading globally tomorrow, Dec. 17.

RLUSD, a new United States dollar-backed stablecoin developed by Ripple, is set for a global exchange debut, the firm announced to Cointelegraph on Monday, Dec. 16.

The announcement came after the New York Department of Financial Services (NYDFS) approved the RLUSD launch, on Dec. 10, greenlighting the stablecoin’s entrance into global financial and cryptocurrency markets.

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Aave DAO considers exiting on Polygon after proposed bridge

December 16, 2024 Coin Telegraph

Aave

Aave founder Marc Zeller has proposed new risk parameters on Polygon in response to plans to farm over $1 billion in stablecoin reserves.

The Aave community is deliberating the possibility of ceasing operations on Polygon, citing concerns over an upcoming review of the risk profile of bridged assets on the network.

A Dec. 13 proposal initiated by Aave chain founder Marc Zeller seeks the revision of risk parameters of instances in Aave v2 and Aave v3 on the Polygon network.

According to Zeller, the move is a response to a proposal on Polygon’s governance requesting to use over $1 billion in stablecoin reserves to farm on other protocols, like Morpho and Yearn.

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Binance and Stablecoin Issuer Circle Announce Strategic Partnership To Boost Adoption of USDC

December 12, 2024 The Daily Hodl

Altcoins

Leading crypto exchange Binance and stablecoin issuer Circle are teaming up to expand the adoption of USDC. In a statement, Binance says the strategic partnership, which was announced at the Abu Dhabi Finance Week on Wednesday, will make USDC more available across its suite of products and services. The exchange says the collaboration will enable […]

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Coinbase prepares to delist Tether’s USDT stablecoin in Europe

December 12, 2024 Coin Telegraph

Coin Telegraph

Coinbase said it will assess reenabling services for stablecoins that achieve MiCA compliance at a later date.

Cryptocurrency exchanges in Europe are preparing to delist locally noncompliant stablecoins as European crypto regulations near an enforcement deadline.

Coinbase Europe, Coinbase Germany and Coinbase Custody International will delist Tether’s USDt (USDT) and five other stablecoins on Dec. 13, Coinbase told Cointelegraph on Thursday.

“Based on the latest information, we currently expect we will have to restrict services for the following assets: USDT, PAX, PYUSD, GUSD, GYEN, and DAI,” Coinbase said, referring to the coins as assets restricted by Europe’s Markets in Crypto-Assets Regulation (MiCA).

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Ripple CEO Brad Garlinghouse Says Stablecoin RLUSD Has Received Final Approval From New York Regulators

December 11, 2024 The Daily Hodl

Brad Garlinghouse

Ripple Labs’ newest stablecoin product has received final approval from a prominent New York regulator. In a post on the social media platform X, Ripple chief executive Brad Garlinghouse says that Ripple USD (RLUSD) – the firm’s new dollar-pegged crypto asset – has been approved by the New York Department of Financial Services (NYDFS). “This […]

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Tether Scores Major Regulatory Milestone As USDT on Three Chains Deemed ‘Accepted Virtual Asset’ in Abu Dhabi

December 10, 2024 The Daily Hodl

Altcoins

The firm behind the largest stablecoin by market cap is announcing the achievement of a significant regulatory milestone. In a new announcement, Tether says USDT has become an Accepted Virtual Asset (AVA), as recognized by the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA). Says Tether CEO Paolo Ardoino of the achievement, “This […]

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Countdown to Ripple’s Stablecoin: The Fight to Meet Year-End Expectations

December 8, 2024 Bitcoin.com

bitcoin.com

Ripple is racing to launch its highly anticipated U.S. dollar-pegged stablecoin by year’s end, poised to revolutionize digital payments across XRP and Ethereum networks. Ripple’s Stablecoin Race: Will It Beat the Holiday Deadline or Face Delays? Ripple is gearing up for a high-stakes December as it races to launch its U.S. dollar-pegged stablecoin, Ripple USD […]

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Hong Kong Considers Bill to Regulate Stablecoins

December 7, 2024 Bitcoin.com

bitcoin.com

This framework will provide the legal foundation for stablecoin regulation in Hong Kong. Regulation for Stablecoins Hong Kong is taking another bold step in its aspiration to establish itself as a global hub for digital assets. The city’s financial regulators are set to submit a draft of the “Stablecoin Regulatory Framework” to the Legislative Council […]

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USDC Becomes First Stablecoin To Gain Compliance With New Canadian Crypto Asset Requirements

December 6, 2024 The Daily Hodl

Altcoins

Circle announced this week that USDC became the first stablecoin to gain compliance with new Canadian digital asset regulations. Canada’s new regulations call for delisting noncompliant stablecoins after December 31st. Circle’s compliance means USDC, which aims to maintain a 1:1 peg with the US dollar, can trade on crypto exchanges in the Canadian market, according […]

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