RLUSD Stablecoin Pilots Expand
What is RLUSD and who is piloting it? RLUSD is Ripple's stablecoin for on-chain settlement. Ripple has partnered with Mastercard, WebBank, and Gemini to pilot RLUSD, and acquired Hidden Road (now Ripple Prime) to offer clearing and trading services for institutional clients.
Ripple continues to expand its RLUSD stablecoin pilots with major financial institutions. The company has partnered with Mastercard, WebBank, and Gemini to pilot on-chain settlement using RLUSD.
Key Highlights
- -Mastercard, WebBank, and Gemini join RLUSD pilot programs
- -Focus on on-chain settlement for institutional transactions
- -Hidden Road acquired and rebranded as Ripple Prime
- -Global prime brokerage offering clearing and trading services
Ripple Prime
Ripple's acquisition of Hidden Road and its rebranding as Ripple Prime represents a major push into institutional services. The platform offers clearing and trading services, positioning Ripple as a comprehensive solution for institutional crypto needs.
What This Means for XRP
While RLUSD is a separate stablecoin product, its success benefits the broader Ripple ecosystem. Increased institutional adoption of Ripple products creates more on-ramps for XRP and strengthens the company's market position.
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