Ripple Breakthrough: RLUSD Now Cooperates with DBS and Franklin

While crypto investors are currently eagerly awaiting the launch of the first XRP Spot ETF, Ripple Labs is already making its next coup with its own stablecoin (RLUSD).
DBS Bank, Southeast Asia's largest bank, has partnered with US asset manager Franklin Templeton and Ripple to launch trading and lending solutions based on tokenized money market funds and RLUSD.
Immediately following the announcement, RLUSD reached a new record high with a market capitalization of $730 million, making it the eighth-largest stablecoin in the crypto market, behind competitors such as USDT, USDC, and USDe.
“The collaboration between Ripple, DBS, and Franklin Templeton to enable repo transactions for a tokenized money market fund using a regulated, stable, and liquid medium of exchange like RLUSD is truly groundbreaking,” said Nigel Khakoo, VP and Global Head of Trading and Markets at Ripple.
New data shows that RLUSD currently has approximately 36,000 holders. In September, the crypto firm also partnered with Chipper Cash, VALR, and Yellow Card to launch RLUSD in the African markets.
Some crypto experts warn that the Ripple stablecoin could pose internal competition in the long run and displace XRP. Find out what Chief Technology Officer David Schwartz has to say about this in an exclusive BTC-ECHO interview: “Ripple: XRP Price Explosion Surprised Even the Executive Board.”

Recommended Video What REALLY happens to Bitcoin when Wall Street gets in

No results