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Ripple Begins Testing Stablecoin 'RLUSD'

Ripple has begun private testing of its new stablecoin, RLUSD. It is being tested on XRP Ledger and Ethereum's mainnet. The purpose of the RLUSD test is primarily to evaluate its functionality and adaptability in the market. Ripple will validate how the stablecoin is used for transactions, how stable it is, and collect important data for future development.

With RLUSD, Ripple aims to expand financial services utilizing blockchain technology. It is expected to improve scalability and transaction speed by utilizing the characteristics of the XRP Ledger, which will improve convenience for users. The adoption of Ethereum will also provide access to a wider ecosystem. RLUSD is a stablecoin that can be exchanged for U.S. dollars on a 1:1 basis, backed by U.S. dollar deposits, U.S. government short-term treasury bills, and other cash equivalents, and Ripple will issue certificates on a monthly basis.

Ripple is also considering introducing RLUSD to other blockchains or DeFi (decentralized finance) protocol apps other than XRP Ledger or Ethereum in the future. RUSD is subject to regulatory approval before it can be traded on the open market.

“Zhao Changpeng's release from prison could boost BNB and 5 other altcoins”

With former Binance CEO Changpeng Zhao set to be released from prison on September 29th (local time), BeInCrypto reports that five altcoins are likely to see an uptick in value. BNB is one of the most prominent coins expected to see price movement following Zhao's release from prison.

blockchain crypto cryptocurrency French Hill blame Gary Gensler (SpotedCrypto)

French Hill : “SEC's approach to regulating crypto firms will only confuse markets”

During a hearing on the Securities and Exchange Commission (SEC) held by the U.S. House of Representatives' Financial Services Committee on March 18 (local time), Congressman French Hill criticized SEC Chairman Gary Gensler's approach to regulating cryptocurrency companies, saying that it is causing confusion and uncertainty

blockchain crypto cryptocurrency us fed ratecut 50bp (SpotedCrypto)

US Fed 'big cuts' interest rates by 0.5 percentage point to bring inflation closer to target, considers another 50 basis point cut later in the year.

The US Federal Reserve's (Fed) Federal Open Market Committee (FOMC) announced in an official statement that it will cut its benchmark interest rate by 0.5%. This is the first rate cut in nearly four years. The Fed raised rates from March 2022 through July of last year.

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