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Ripple, the San Francisco-based blockchain giant that currently operates the third-largest cryptocurrency XRP, issued a tweet highlighting the recent official release of the XRP cryptocurrency. The company's new product is RLUSD Share its details, as well as access the white paper.
“Say hello to Ripple USD”
In the aforementioned Ripple post, the company invited the cryptocurrency community to “say hello to Ripple USD” — a product “backed by over 10 years of on-chain experience.” The post also contains a link to Ripple's website where anyone can access the RLUSD whitepaper.
The RLUSD page on Ripple's website notes that the company's new product offers real-time and seamless payments to the on/off ramps of the RLUSD stablecoin. It allows you to hold, buy and trade US dollars using a new stablecoin that is up to high standards and backed by cash reserves, treasuries and cash equivalents.
RLUSD whitepaper revealed by Ripple
The stablecoin was released on both the Ethereum blockchain and the XRP Ledger after several months of testing, which began in August and ended in December. According to the whitepaper accessible on the website, the RLUSD stablecoin offers high-speed, low-cost transactions, along with high scalability over the XRP Ledger – the latter allowing more than 1,500 transactions per second.
Ripple plans to use RLUSD as part of the company's cross-border payments platform that is dredging the equivalent of billions of US dollars. The white paper says that Ripple created RLUSD primarily with “cross-border payments and institutional adoption” in mind, however, the document confirms that it is suitable for many other integrations as well.
Related to
Ripple receives 300 million XRP from an anonymous sender
On January 1, popular blockchain tracker Whale Alert spotted two large XRP transfers. The first holds 500,000,000, while the second holds 300,000,000 XRP.
Whale Alert reported that half a billion XRP worth just over $1 billion has been released from escrow. Traditionally, on the first day of every month, 1 billion XRP is released from escrow by the cryptocurrency powerhouse Ripple. However, no additional data was shared by the aforementioned source.
As for the second transaction, Ripple received 300,000,000 XRP from an anonymous wallet. Details shared by Whale Alert show that the sender address belongs to Ripple.
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