Former Ripple Developer Teases Launch of Ripple Dollar Payment Startup
Prefer us on GoogleA former Ripple developer is preparing a startup based on the XRP Ledger (XRPL) and plans to use Ripple Dollar (RLUSD) as the core payment method. The project is expected to be unveiled in early September. Bias Goose mentioned in a post, 'We will make RLUSD great again.' Ripple Dollar is a dollar-pegged stablecoin that Ripple intends to utilize for institutional payments and tokenization infrastructure. As of August 6, the circulating supply of Ripple Dollar was reported to be $1.5896 billion, with reserves of $1.726 billion. Unlike XRP, which has high price volatility, Ripple Dollar is designed to maintain its value pegged to the dollar. This project is related to Ripple's expansion of support for XRP Ledger startups, and Ripple stated in a document dated February 26 that it has invested over $550 million into the XRP Ledger ecosystem. Seoul Fintech Lab has reported that it has launched an XRPL-based startup program with Ripple's support. The current impact of Ripple Dollar and XRP prices, as well as the usage of the XRP Ledger, remains uncertain, and specific details will be revealed during the early September announcement.
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