Ripple Integrates RLUSD Stablecoin Into Cross-Border Payments System
Ripple USD's market cap reached $244 million since its December debut, growing 87% over the past month.
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Ripple has integrated its stablecoin, RLUSD, into its cross-border payments system called Ripple Payments.
Stablecoins are a rapidly growing asset class. Ripple entered the increasingly competitive market in December after gaining regulatory approval by NYDFS.
RLUSD's growth is "outpacing our internal projections" and the company is collaborating with NGOs to explore stablecoins for aid distribution, Ripple's stablecoin head Jack McDonald said.