{"id":34429,"date":"2025-01-09T13:15:42","date_gmt":"2025-01-09T13:15:42","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=34429"},"modified":"2025-01-09T13:15:42","modified_gmt":"2025-01-09T13:15:42","slug":"this-leading-crypto-exchange-embraces-ripples-stablecoin-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=34429","title":{"rendered":"This Leading Crypto Exchange Embraces Ripple\u2019s Stablecoin: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Since its launch, RLUSD has been adopted by many leading cryptocurrency exchanges and some of which highlighted its use cases.<\/span>
\nThe latest to jump on the bandwagon is the European-based Bitstamp.<\/p>\n

<\/a><\/span><\/h2>\n

The Next to Join the Pack<\/h2>\n

Ripple\u2019s stablecoin RLUSD officially saw the light of day in mid-December last year. Upon launch, several cryptocurrency exchanges embraced the product, including Uphold, Bitso, Moonpay, CoinMENA, and others.<\/span><\/p>\n

Earlier this week, Ripple\u2019s president, Monica Long, <\/span>said<\/span><\/a> people should expect other leading platforms to hop on the bandwagon \u201cimminently.\u201d Shortly after, the Luxembourg-based Bitstamp <\/span>put\u00a0<\/span><\/a>its name on the list.\u00a0<\/span><\/p>\n

It added RLUSD <\/span>on<\/span> the Ethereum network, <\/span>describing<\/span> the stablecoin as \u201ca robust solution designed for institutional-grade financial use cases.\u201d<\/span> It also reminded that the product is pegged 1:1 to the US dollar, claiming that it \u201coffers consistent value for payments, tokenization, and more.\u201d<\/span><\/p>\n

The <\/span>exact<\/span> trading pairs available to Bitstamp users are RLUSD\/EUR, RLUSD\/USD, RLUSD\/USDT, RLUSD\/BTC, RLUSD\/ETH, and RLUSD\/XRP.\u00a0<\/span><\/p>\n

It is important to note that the company warned people to be careful when dealing with the stablecoin since it \u201cis a high-risk investment and may not be suitable for all investors.\u201d<\/span><\/p>\n

\u201cDon\u2019t invest unless you\u2019re prepared to lose all the money you invest,\u201d it added.<\/span><\/p>\n

The Initial Volatility<\/span><\/h2>\n

As mentioned above, RLUSD <\/span>is designed<\/span> to maintain a 1:1 peg to the greenback. However, during its first few weeks of existence, its price fluctuated substantially between $0.96 and $1.06 (per CoinGecko\u2019s data).\u00a0<\/span><\/p>\n

Just a day before its official launch, Ripple\u2019s CTO David Schwartz <\/span>warned<\/span><\/a> about potential enhanced volatility caused by speculative behavior or people willing to acquire the first fraction of RLUSD on decentralized exchanges at abnormally high prices.\u00a0<\/span><\/p>\n

The executive added that RLUSD should eventually settle at around $1, saying that if this is not the case, <\/span>then<\/span> \u201csomething is very seriously wrong.\u201d He also advised people not to FOMO into the stablecoin since \u201cit is not an opportunity to get rich.\u201d<\/span><\/p>\n

As observed on its price chart, RLUSD overcame the volatility, trading at around $1 <\/span>ever<\/span> since December 27.<\/span><\/p>\n

<\/a>RLUSD Price, Source: CoinGecko<\/p>\n

\u00a0<\/span><\/p>\n

The post This Leading Crypto Exchange Embraces Ripple\u2019s Stablecoin: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Since its launch, RLUSD has been adopted by many leading cryptocurrency exchanges and some of which highlighted its use cases. The latest to jump on the bandwagon is the European-based Bitstamp. The Next to Join the Pack Ripple\u2019s stablecoin RLUSD officially saw the light of day in mid-December last year. Upon launch, several cryptocurrency […]<\/p>\n","protected":false},"author":0,"featured_media":34430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-34429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/34429"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34429"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/34429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/34430"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}