{"id":35811,"date":"2024-08-11T06:28:34","date_gmt":"2024-08-11T06:28:34","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ripple-begins-beta-testing-for-new-stablecoin-rlusd\/"},"modified":"2024-08-11T06:28:34","modified_gmt":"2024-08-11T06:28:34","slug":"ripple-begins-beta-testing-for-new-stablecoin-rlusd","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ripple-begins-beta-testing-for-new-stablecoin-rlusd\/","title":{"rendered":"Ripple Begins Beta Testing for New Stablecoin RLUSD"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Ripple is moving forward with beta testing its new stablecoin, Ripple USD (RLUSD), on both the XRP Ledger and the Ethereum (ETH) mainnet. This new dollar-pegged digital currency, however, is not yet available for public purchase and is awaiting regulatory approval.<\/p>\n<p>Ripple USD aims to offer stability by being fully backed by cash and cash equivalents. The stablecoin will be redeemable at a 1:1 ratio with US dollars. Ripple also plans to broaden the reach of RLUSD in the future, making it accessible on more blockchains and decentralized finance (DeFi) platforms.<\/p>\n<p>The journey toward RLUSD began earlier this year. In April, Ripple unveiled its plans for the stablecoin. However, in May, the U.S. Securities and Exchange Commission (SEC) raised concerns, claiming that RLUSD represented an \u201cunregistered crypto asset\u201d in a court filing. This filing is part of the ongoing legal battle between the SEC and Ripple, which started in late 2020. The SEC accused Ripple of selling XRP as an unregistered security.<\/p>\n<p>This week, Judge Torres imposed a <a href=\"https:\/\/igaming.org\/crypto\/ripple-fined-125-million-for-securities-violations-judge-imposes-restrictions\/\">$125 million civil penalty<\/a> on Ripple for these institutional sales. Despite the legal challenges, Ripple is continuing to develop and test its new stablecoin, with a clear focus on regulatory compliance and market expansion.<\/p>\n<p>The penatly comes after last year, US District Judge Analisa Torres delivered a partial ruling in Ripple\u2019s favor. She determined that Ripple\u2019s automated, open-market sales of XRP did not qualify as security offerings. However, she <a href=\"https:\/\/igaming.org\/crypto\/federal-judge-denies-in-ripple-case-signaling-uncertainty-for-crypto-regulation\/\">upheld<\/a> the SEC\u2019s claim that Ripple\u2019s direct sales of XRP to institutional buyers did violate securities laws.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 111% + 111 Free Spins!<\/strong> <\/p>\n<p>New players only. Exclusive 111% Welcome Bonus + 111 Free Spins<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/ripple-begins-beta-testing-for-new-stablecoin-rlusd\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Ripple is moving forward with beta testing its new stablecoin, Ripple USD (RLUSD), on both the XRP Ledger and the Ethereum (ETH) mainnet. This new dollar-pegged digital currency, however, is not yet available for public purchase and is awaiting regulatory approval. Ripple USD aims to offer [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":35812,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35811"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=35811"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/35812"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=35811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=35811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=35811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}