San Francisco-based blockchain firm Ripple has announced that the RLUSD stablecoin has been integrated into its cross-border payments solution.
The red-hot product is already being used by such providers as iSend and BKK Forex.
As reported by U.Today, Ripple's Jack McDonald recently revealed that RLUSD had surpassed the company's growth expectations.
According to CoinGecko data, RLUSD's total market cap currently stands at $243 million.
Earlier this Wednesday, Ripple minted yet another 50 million RLUSD tokens.
Ripple expects the stablecoin to appear among the top 5 leaders of the sector by the end of this year.
Godfrey BenjaminThe stablecoin has also secured some new major listings, with Kraken being the most recent major trading platform to add support for RLUSD.
More completion
Changpeng Zhao, the former CEO of Binance, has stated that healthy stablecoin competition is just getting started in response to Ripple's announcement.
However, CZ has noted that stablecoins will likely increase the usage of fiat currencies since they are based on them.
"They are based on physical currency, so, by definition, they will only increase physical currency usage, not replace," he noted.
He has predicted that there may come a point when more transactions are done in stablecoins, but it will take a while. "Crypto adoption is less than 10% currently," he said.
Vladislav Sopov
Dan Burgin