| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107346.3200000000 |
| ETH | $2437.1360000000 |
| BNB | $649.9543600000 |
| XRP | $2.1850140000 |
| ADA | $0.5612119000 |
| SOL | $149.7653000000 |
| DOGE | $N/A |
| DOT | $3.4047100000 |
| LTC | $86.7403000000 |
| LINK | $13.4017200000 |
Category: CRYPTO NEWS
The post XRP News: Ripple RLUSD Gains Utility Boost As Collateral Asset appeared on BitcoinEthereumNews.com. Ripple has been cooking behind the scenes and its latest efforts cast the spotlight on its RLUSD stablecoin. The crypto company’s managing director revealed interesting XRP news and other details regarding the stablecoin. Just over 4 months have passed since Ripple launched its RLUSD stablecoin. It has achieved significant growth so far but it just went through one of its most significant developments yet. Ripple’s managing director revealed during one of the company’s latest conferences that RLUSD will be used as collateral in Hidden road. The latter is a credit network that offers services to institutions at a global scale. Ripple acquired Hidden Road for $1.25 billion, which marked one of its biggest acquisitions in history. According to the Ripple executive, using RLUSD as collateral for Hidden Road will act as a bridge between traditional finance and the digital asset industry. The decision will effectively expose RLUSD to Hidden Road’s institutional clientele and offer a compelling utility aspect now that the stablecoin is a collateral asset. Here’s how the Hidden Road acquisition plays a role in Ripple strategy The statement by Ripple’s executive reveals more details about the company’s strategy. Particularly in regards to the Hidden Road acquisition. The global credit network has over 300 institutional clients whose trades annually exceed $3 trillion. The acquisition not only allowed Ripple to gain access to those clients, but also to use RLUSD as part of the infrastructure supporting service delivery. She also noted that Hidden Road’s post brokerage services will run on the XRP ledger. This further highlights the use of Ripple’s network to support institutional grade services. Ripple’s focus on institutional clients may also aid in rapidly building up its credibility. Ripple’s strategy has not only been to focus on underserved business to business services, but also to solve some of the…
2025-04-23T03:40:25+00:00