Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In a recent tweet, Ripple President Monica Long put the spotlight on positive developments surrounding Ripple USD stablecoin RLUSD.
In the past week, Ripple has secured partnerships beneficial for the RLUSD stablecoin.
Last week, Ripple announced a groundbreaking partnership with DBS and Franklin Templeton that would launch trading and lending solutions powered by tokenized money market funds and Ripple's RLUSD stablecoin.
Investors will be able to use RLUSD to trade for Franklin Templeton’s money market fund, sgBENJI, earn yield and open new liquidity venues.
Now, in the most recent move, Ripple — in partnership with Securitize, a platform for tokenizing real-world assets — announced today a smart contract that would allow holders of BlackRock’s BUIDL and VanEck’s VBILL to exchange their shares to Ripple for Ripple USD (RLUSD) stablecoin. This smart contract adds an additional stablecoin off ramp for BUIDL and VBILL tokenized short term treasury funds.
Ripple president reacts
In a tweet, Ripple President Monica Long reacted to recent positive developments for RLUSD stablecoin: "Last week we announced DBS and Franklin Templeton using RLUSD as a liquid, stable and compliant exchange mechanism for tokenized assets in lending and trading use cases. This week, Securitize added RLUSD as a new offramp for BlackRock and VanEck’s tokenized funds."
The recent RLUSD positive developments have attracted reactions from the crypto community.
Jack McDonald, CEO of Standard Custody and SVP of Stablecoins at Ripple, stated: "Ending Q3 on a high note through Ripple’s partnership with Securitize, RLUSD is now a key stablecoin offramp for BlackRock’s BUIDL and VanEck’s VBILL tokenized fund holders. The integration is starting with ETH, though Securitize is planning to integrate with the XRP Ledger."
In a recent tweet, CME Group stated it has hit the four-month milestone for XRP futures as demand for trusted, regulated crypto products remains. CME group shared a recap for XRP and micro XRP futures in the last four months: 397,000 contracts traded, $18.3 billion in notional volume ($213 million ADV) and 6 billion XRP equivalent.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team