More than $ 100 million in the USD (RUSD) ripples have been issued since April 1, among the highest levels in recent months, because the demand for relatively new stablecoin warms up.
A branch of $ 50 million in Rlusd was published Tuesday earlier this week, with an additional $ 50 million on Wednesday evening. This came while Ripple added the stablecoin to its official payment product, with the BKK Forex and Isend payment providers already used Stablecoin.
Industry leaders expect the RUSD more changing the dynamics of the crypto market, where TETH (USDT) and USD Coin (USDC) parasites could see the competition from the Ripple product.
Decentralized financial applications (DEFI) based on the big book could be a cohort to monitor so that Rlusd is gaining ground on various platforms, increasing the demand for XRP token.
Rlusd is a stablecoin fixed 1: 1 to the US dollar, offered on the large XRP book and the Ethereum blockchain. It is entirely supported by deposits in US dollars, short -term US treasury bills and cash equivalents.
To maintain its PEG, Rlusd relies on a reserve system 1: 1 – Each tail corresponds to an equivalent Fiat value.
Users may have struck the RUSD by depositing dollars with authorized partners, who emit tokens or burn Rlusd to exchange species. Market arbitration helps stabilize its price: if Rlusd is negotiated below $ 1, the traders buy it to buy on peer, which increases the request; If more than $ 1, they strike more, increasing the offer.
Safety features make Rlusd attractive to institutional users. An XRP LEDGER amendment in January saw a “recovery” feature online on the network, allowing the transmitter to recover or “recover” certain tokens, such as RUSD, user portfolios in specific conditions.
This feature is generally implemented for regulatory compliance, in order to recover assets in the event of fraud, illegal activities or when tokens are sent to involuntary addresses.
