Ripple’s Stablecoin Debuts on BlackRock-Backed Tokenization Platform
Ripple’s RLUSD stablecoin has been integrated into Securitize’s tokenization platform, allowing exchanges between shares in money market funds and the dollar-pegged asset. This service acts as an off-ramp for products from asset managers like BlackRock and VanEck, providing users with 24/7 access to instant liquidity. Launched in December, the stablecoin has seen its market cap rise to $740 million. Jack McDonald from Ripple noted this integration as pivotal for bridging traditional finance with cryptocurrency, targeting institutional investors specifically. Despite being smaller than competitors like Tether and Circle, RLUSD's growth signifies its acceptance in the market. Securitize previously integrated Circle’s USDC for similar benefits and aims to enhance investment accessibility. The RLUSD integration is expected to lead to real-time settlement and automation of liquidity for compliant on-chain investment products, an important feature as firms explore security token offerings.
Source 🔗