- RLUSD stablecoin launch confirmed for December 17th
- Initial availability on Moonpay, CoinMENA, Archax, and Uphold
- High-profile advisors joining Ripple’s board to bolster strategic guidance
The much anticipated Ripple Labs stablecoin, RLUSD, will be going live this Tuesday, December 17th.
These reports were confirmed by Fox Business journalist Eleanor Terret on Twitter. According to Terret, $RLUSD will initially be available on the exchanges Moonpay, CoinMENA, Archax, and Uphold. Further cryptocurrency exchanges like Bitso, Bullish, and Bitstamp will then add the stablecoin to their platforms in the coming weeks.
This development holds a significant weight to the cryptocurrency market, particularly for the XRP issuer, Ripple Labs. The company is expected to start adding RLUSD as a payment method to ‘Ripple Payments” in the first quarter of 2025.
Former Governor of India’s Reserve Bank Raghuram Rajan, and former First Vice President and COO at the Federal Reserve of Boston, Kenneth Montgomery are set to enter Ripple’s advisory board, likely to add even more strategic guidance for regulatory insights once RLUSD goes live.
As a result, RLUSD has just broken a weekly bearish trend, up by over 3% in value in the last hour alone. The currency is set to end the last quarter of 2024 as the most profitable digital asset in the time period, at least among the top 100 cryptocurrencies in the ranking by market capitalization.
Moving forward, investors expect even more interesting price movements later in the week as RLUSD gets launched on the same date the Federal Reserve will hold this month’s FOMC meeting to decide the next interest rate in America.
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