Ripple, a blockchain service focused on the company closely linked to the XRP LEDGER (XRP), said on Wednesday that it had integrated its stablecoin into the company’s cross -border payment system to stimulate adoption for Ripple USD (RUSD).
Select Ripple Payments Customers, including cross -border payment providers, BKK Forex and Isend already use Stablecoin to improve their cash operations, said the company. Ripple plans to further extend the availability of the token token to payments customers.
In addition, Crypto Exchange Kraken added Rlusd to its platform, after recent announcements on Lmax and Bitstamp.
Ripple entered the Stablescoin market in rapid growth with its short-term cryptocurrency supported by the US government after receiving regulatory approval from New York New York Department of Financial Services in December.
Since then, Rlusd has reached a market capitalization of $ 244 million, increasing by 87% in last month and reaching a monthly transfer volume of $ 860 million, according to Rwa.xyz data.
Jack McDonald, vice-president of Ripple’s Stablecoins, said in a statement that Rlusd growth “exceeded our internal projections” with an adoption covering several financial sectors. Ripple also works with NGOs exploring stablescoins for a more efficient aid distribution, he added.
