- Ripple’s RLUSD earns top Bluechip rating, outranking USDT and USDC today.
- Secure reserves, NYDFS oversight make RLUSD a trusted, low-risk stablecoin option.
- Ripple targets EU license, US bank charter to grow RLUSD globally.
Ripple’s stablecoin, RLUSD, has reached a new milestone. Recently, the crypto rating agency Bluechip gave RLUSD an “A” rating. This makes RLUSD the top stablecoin when it comes to stability, governance, and asset backing. This is the reason why RLUSD is currently ahead of such well-known projects as USDT and USDC in terms of trust and reliability.
Ripple’s RLUSD Earns Top Rank for Strong Reserves and Governance
Among the reasons that RLUSD has been given this number one position is because of its good reserves. According to the report released by Bluechip, RLUSD reserves are secure and well taken care of. They consist of the US Treasuries and bank deposits. This renders the stablecoin a low-risk coin.
In addition, RLUSD is governed by the New York State Department of Financial Services (NYDFS). This brings a new dimension of trust. In addition, the reserves of RLUSD are held in the Bank of New York Mellon (BNY Mellon). The funds are kept in special accounts that are segregated against the rest of Ripple’s funds. That is to say that in case Ripple becomes bankrupt, the owners of stablecoin are still safeguarded.
The RLUSD was introduced in December 2024. Since that time, Ripple has been trying to ensure that it remains fully backed. These reserves are in the form of US dollar deposits, short-term treasury bonds, and other safe assets. These peg RLUSD at 1:1 to the US dollar.
The second advantage is that RLUSD is functional on the Ethereum network and is also built on the XRP Ledger. Due to this fact, it can be used by a lot of people who have various needs. As an example, RLUSD can be used to make quick payments by businesses. In DeFi projects, people can use crypto. It is also convenient to exchange between crypto and traditional money.
Ripple has great plans for RLUSD. The company is interested in this stablecoin as a means of fast and inexpensive international payments. International transactions are slow and are very expensive for many businesses. This problem can be addressed with the help of RLUSD.
Ripple Expands to EU, Seeks U.S. Bank Charter for RLUSD
At the same time, Ripple wants to show that it plays by the rules. The firm is collaborating with regulators such as the NYDFS. It is of the opinion that robust compliance will result in more institutional partners. Since the inception of RLUSD, the market value and the daily trading volume of the cryptocurrency have surged rapidly. This demonstrates that people believe in it and desire to use it.
The ranking of Bluechip indicates the position of RLUSD compared with other coins. GUSD was GUSD, third position. PayPal at PYUSD was number five. USDC of Circle received only a B+ rating. In the meantime, USDT, the largest stablecoin globally in terms of market cap operated by Tether, was given a D. This is due to its reservation and transparency concerns.
Ripple is not ending at this point. It is interested in growing in Europe through obtaining a license in Luxembourg. It intends to acquire a national trust bank charter in the US. Ripple has also gone into collaboration with well-known names such as BNY Mellon to hold reserves and Amina Bank to support.
The moves are aimed at bringing old-school finance into the high-paced crypto world, Ripple hopes. Provided everything turns out alright, RLUSD might be one of the most utilized stablecoins in the whole world.
Ultimately, the mission of Ripple is understandable: create confidence, remain compliant, and enable people to transfer money easily and securely.
The post Ripple’s RLUSD Gets Top Stablecoin Rating from Bluechip appeared first on Live Bitcoin News.
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