Ripple President Sheds Light on RLUSD Milestones

In a recent tweet, Ripple President Monica Long put the spotlight on positive developments surrounding Ripple USD stablecoin $RLUSD.

In the past week, Ripple has secured partnerships beneficial for the $RLUSD stablecoin.

Last week, Ripple announced a groundbreaking partnership with DBS and Franklin Templeton that would launch trading and lending solutions powered by tokenized money market funds and Ripple's $RLUSD stablecoin.

Investors will be able to use $RLUSD to trade for Franklin Templeton’s money market fund, sgBENJI, earn yield and open new liquidity venues.

Now, in the most recent move, Ripple — in partnership with Securitize, a platform for tokenizing real-world assets — announced today a smart contract that would allow holders of BlackRock’s BUIDL and VanEck’s VBILL to exchange their shares to Ripple for Ripple USD ($RLUSD) stablecoin. This smart contract adds an additional stablecoin off ramp for BUIDL and VBILL tokenized short term treasury funds.

Ripple president reacts

In a tweet, Ripple President Monica Long reacted to recent positive developments for $RLUSD stablecoin: "Last week we announced DBS and Franklin Templeton using $RLUSD as a liquid, stable and compliant exchange mechanism for tokenized assets in lending and trading use cases. This week, Securitize added $RLUSD as a new offramp for BlackRock and VanEck’s tokenized funds."

The recent $RLUSD positive developments have attracted reactions from the crypto community.

Jack McDonald, CEO of Standard Custody and SVP of Stablecoins at Ripple, stated: "Ending Q3 on a high note through Ripple’s partnership with Securitize, $RLUSD is now a key stablecoin offramp for BlackRock’s BUIDL and VanEck’s VBILL tokenized fund holders. The integration is starting with ETH, though Securitize is planning to integrate with the $XRP Ledger."

In a recent tweet, CME Group stated it has hit the four-month milestone for $XRP futures as demand for trusted, regulated crypto products remains. CME group shared a recap for $XRP and micro $XRP futures in the last four months: 397,000 contracts traded, $18.3 billion in notional volume ($213 million ADV) and 6 billion $XRP equivalent.