Ripple, RLUSD Payment Integration Formalized
Ripple integrating RLUSD into its payment system (Source: @Ripple, X)
Blockchain-based payment company Ripple has officially integrated the RLUSD stablecoin into its payment system. This decision is part of a strategy to enable global companies to handle complex overseas remittances more quickly and reliably, and Ripple aims to provide a digital payment method that offers transparency and reliability through RLUSD.
Ripple expects that through this integration, RLUSD will establish itself as a stable digital asset that meets institutional standards. In particular, RLUSD is noted as a scalable payment option that can serve as an alternative to address inefficiencies and cost issues arising from transactions across various countries. In addition, the overall expectations for the XRP ecosystem are also rising.
However, RLUSD's trading volume shows a contrasting trend to the integration announcement. According to CoinMarketCap data, RLUSD's 24-hour trading volume stands at $22.51 million, a sharp decline of about 37.55% from the previous day. This is in stark contrast to the scenario earlier this month when trading volume surged by over 87% in a single day.
Initially upon its launch, RLUSD was noted for various use cases, being utilized as a collateral asset in both the cryptocurrency market and traditional financial markets. However, recent sluggish trading is interpreted as a sign that investors are shifting their strategy from short-term trading to long-term holding.
In fact, RLUSD's market capitalization has seen a slight increase (0.04%), yet it remains in a state of inactive trading. This suggests that RLUSD is still in its early stages of introduction, with users seemingly beginning to secure assets in anticipation of expanded real-use applications.
Whether RLUSD can function effectively within Ripple's main payment network in the future depends on the recovery of continuous trading volume and the expansion of integration within the system. If RLUSD's role within the XRP ecosystem is established, this could elevate the credibility of a stablecoin-based payment system and ultimately influence XRP's market trends.