A recent CoinDesk report on X revealed that Ripple has officially integrated its stablecoin, RLUSD, into its cross-border payments system, aiming to enhance the efficiency of global transactions. The company announced on Wednesday that this move will strengthen RLUSD’s adoption, particularly among financial institutions and payment service providers. Growing Presence in the Stablecoin Market Since launching in December with regulatory approval from the New York Department of Financial Services (NYDFS), RLUSD has seen rapid expansion. Its market capitalization recently climbed to $244 million, marking an increase of almost 90% in just the past month. According to data from Rwa.xyz, the stablecoin also achieved a monthly transfer volume of $860 million, reflecting its rising demand. Ripple’s entry into the stablecoin sector comes at a time when competition is intensifying among issuers seeking to offer stablecoins. The company has positioned RLUSD as a secure and scalable option for institutions looking to streamline their financial operations. RLUSD’s growth is also exciting for XRP holders as many experts believe the asset can benefit significantly . As the adoption of Ripple’s technology grows through RLUSD, XRP will be exposed to new markets and new users, and this increased adoption could potentially increase its price. Adoption in Cross-Border Transactions According to CoinDesk’s report , RLUSD integration into Ripple Payments benefits select clients, including cross-border payment firms such as BKK Forex and iSend. These companies leverage the stablecoin to optimize treasury management and improve transaction efficiency. Ripple plans to expand RLUSD’s availability to additional payment customers soon. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 In a further push for mainstream adoption, RLUSD has also been added to Kraken’s trading platform, following its recent listings on LMAX Digital and Bitstamp. These listings provide greater accessibility to the stablecoin, reinforcing its role in the broader digital asset ecosystem. Ripple’s Plans for RLUSD Ripple CEO Brad Garlinghouse recently revealed that the stablecoin’s growth has exceeded internal expectations, highlighting its potential to reshape digital payments. He also revealed the company’s plans to make the stablecoin one of the top five in the market by the end of 2025. Beyond institutional use, Ripple is actively working with non-governmental organizations (NGOs) to explore the role of stablecoins in humanitarian efforts. The company sees RLUSD as a tool for improving aid distribution, offering a more efficient and transparent alternative to traditional funding mechanisms. The integration of RLUSD into Ripple Payments signals a strategic effort to drive adoption while positioning itself as a leader in stablecoin-powered financial solutions. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple Injects Multi-million Dollars In RLUSD Into Its Cross-Border Payment System appeared first on Times Tabloid .
