{"id":17795,"date":"2024-10-15T17:31:06","date_gmt":"2024-10-15T14:31:06","guid":{"rendered":"https:\/\/forklog.com\/en\/ripple-partners-with-bitstamp-and-bitso-for-rlusd-stablecoin-exchange\/"},"modified":"2024-10-15T17:31:06","modified_gmt":"2024-10-15T14:31:06","slug":"ripple-partners-with-bitstamp-and-bitso-for-rlusd-stablecoin-exchange","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ripple-partners-with-bitstamp-and-bitso-for-rlusd-stablecoin-exchange\/","title":{"rendered":"Ripple Partners with Bitstamp and Bitso for RLUSD Stablecoin Exchange"},"content":{"rendered":"<p>Global access to Ripple&#8217;s RLUSD stablecoin for institutions and users will initially be facilitated by platforms such as Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Today at <a href=\"https:\/\/twitter.com\/hashtag\/RippleSwell?src=hash&#038;ref_src=twsrc%5Etfw\">#RippleSwell<\/a>, we\u2019re proud to announce our Ripple USD exchange partners.<\/p>\n<p>Upon regulatory approval, <a href=\"https:\/\/twitter.com\/search?q=%24RLUSD&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$RLUSD<\/a> will be globally available for institutions and users from <a href=\"https:\/\/twitter.com\/UpholdInc?ref_src=twsrc%5Etfw\">@UpholdInc<\/a>, <a href=\"https:\/\/twitter.com\/Bitstamp?ref_src=twsrc%5Etfw\">@BitStamp<\/a>, <a href=\"https:\/\/twitter.com\/Bitso?ref_src=twsrc%5Etfw\">@Bitso<\/a>, <a href=\"https:\/\/twitter.com\/moonpay?ref_src=twsrc%5Etfw\">@Moonpay<\/a>, @Indereserve, <a href=\"https:\/\/twitter.com\/CoinMENA?ref_src=twsrc%5Etfw\">@CoinMENA<\/a>, and <a href=\"https:\/\/twitter.com\/Bullish?ref_src=twsrc%5Etfw\">@Bullish<\/a>. <a href=\"https:\/\/t.co\/iZ7L1MHpn3\">https:\/\/t.co\/iZ7L1MHpn3<\/a><\/p>\n<p>\u2014 Ripple (@Ripple) <a href=\"https:\/\/twitter.com\/Ripple\/status\/1846170498725478640?ref_src=twsrc%5Etfw\">October 15, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the statement, liquidity for the asset markets will be provided by market makers B2C2 and Keyrock.<\/p>\n<p>In August, Ripple announced the commencement of <a href=\"https:\/\/forklog.com\/en\/news\/ripple-initiates-testing-of-rlusd-stablecoin\">closed beta testing<\/a> of its US dollar-pegged stablecoin. The company justified the initiative by citing Bernstein analysts&#8217; forecast of the segment&#8217;s capitalization growing to $2.8 trillion in the coming years.<\/p>\n<p>Ripple CEO Brad Garlinghouse noted that the firm&#8217;s clients demand a &#8220;high-quality stablecoin like RLUSD&#8221; for various scenarios, including payments, tokenization of real-world assets (RWA), and DeFi.<\/p>\n<p>Public access to the coin will only be possible after receiving regulatory approvals, the firm emphasized.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThanks to our initial exchange partners, the evident utility and demand for RLUSD, and a strong focus on compliance, Ripple&#8217;s stablecoin is poised to become the gold standard for the corporate sector,\u201d stated Garlinghouse.<\/p>\n<\/blockquote>\n<p>For the &#8220;responsible&#8221; market launch of the coin, the company has formed an advisory board. It includes:<\/p>\n<ul class=\"wp-block-list\">\n<li>former head of the Federal Deposit Insurance Corporation (FDIC) Sheila Bair;<\/li>\n<li>Vice Chairman of Partners Capital and former CEO of the CENTRE consortium David Puth;<\/li>\n<li>co-founder and executive chairman of Ripple Chris Larsen.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cStablecoins are a crucial component in the development of the digital economy, providing a bridge between traditional finance and the cryptocurrency market. They offer the necessary stability for transactions, using blockchain technology to enhance transparency and efficiency,\u201d commented Puth.<\/p>\n<\/blockquote>\n<p>Meanwhile, Ripple continues its legal battle with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>, ongoing since 2020. The regulator accused the company of raising $1.3 billion through the sale of XRP as unregistered securities.<\/p>\n<p>In July 2023, the firm achieved a partial victory. Judge Analisa Torres ruled that secondary sales and other token distributions did not violate existing regulations. However, this did not apply to institutional purchases of XRP exceeding $700 million.<\/p>\n<p>In August 2024, Torres <a href=\"https:\/\/www.courtlistener.com\/docket\/19857399\/973\/securities-and-exchange-commission-v-ripple-labs-inc\/\">fined Ripple $125 million<\/a>\u2014the Commission had sought <a href=\"https:\/\/forklog.com\/en\/news\/sec-seeks-2-billion-penalty-for-ripple-labs\">a $2 billion penalty<\/a>. The court ruling upheld part of the agency&#8217;s motions, including a ban on the firm violating securities laws.<\/p>\n<p>In October, the SEC challenged the verdict in the Court of Appeals, which <a href=\"https:\/\/forklog.com\/en\/news\/ripple-unfazed-by-potential-sec-appeal-on-xrp-status\">came as no surprise<\/a> to Ripple.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global access to Ripple&#8217;s RLUSD stablecoin for institutions and users will initially be facilitated by platforms such as Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. Today at #RippleSwell, we\u2019re proud to announce our Ripple USD exchange partners. Upon regulatory approval, $RLUSD will be globally available for institutions and users from @UpholdInc, @BitStamp, @Bitso, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[112,1654,807],"class_list":["post-17795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ripple","tag-rlusd","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17795"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17795\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17794"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}