Trading Ripple News: Digital Custody Guide, XRP ETF Filing, and New Stablecoin Launch
Ripple extends its influence in digital finance with initiatives in digital custody, an XRP ETF filing, and a new USD-pegged stablecoin, RLUSD. These moves reinforce its strategic position amid regulatory challenges and underscore its commitment to supporting banks and capturing market share in digital assets.
1. Ripple Launches Digital Custody Guide for Banks
Published: November 2, 2024
Ripple has released a detailed guide targeting banks and financial institutions interested in the expanding digital asset custody sector, now valued at $20 trillion. This guide addresses banks’ evolving needs, providing insights into regulatory compliance, technological requirements, and market entry strategies. By positioning itself as a knowledge leader in digital asset custody, Ripple reinforces its commitment to supporting traditional financial institutions as they enter the digital realm.
2. 21Shares Files S-1 for XRP ETF, Reflecting Rising Demand
Published: November 1, 2024
Amid ongoing legal challenges between Ripple and the SEC, 21Shares has filed an S-1 with the SEC to launch an XRP exchange-traded fund (ETF). This move underscores the growing market interest in XRP-based products despite regulatory uncertainties. If approved, this ETF would be a landmark for XRP investors, making it accessible within traditional investment frameworks and signaling greater institutional acceptance.
3. Ripple Introduces RLUSD Stablecoin to Compete with Industry Leaders
Published: October 15, 2024
In a direct challenge to major stablecoins like Tether and USD Coin, Ripple launched RLUSD, a USD-pegged stablecoin. This launch diversifies Ripple’s offerings, emphasizing its adaptability and competitive strategy in the digital currency market. By leveraging its existing infrastructure and cross-border payment expertise, Ripple aims to carve out a space in the stablecoin market, which could enhance its influence in retail and institutional finance sectors.
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Ripple
Ripple, founded in 2012, is a technology company based in San Francisco focusing on digital payments and blockchain solutions. It developed the RippleNet payment network and the XRP cryptocurrency to facilitate fast, low-cost cross-border transactions. Ripple's innovative technology is designed to improve the efficiency of financial institutions and payment providers globally, streamlining remittances and monetary transfers.
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