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Ripple to Roll Out RLUSD Stablecoin on Dec. 17, Adds Former Central Bankers to Advisory Board

Ripple, an enterprise-focused blockchain service closely related to the XRP Ledger (XRP), said it will start making its highly-anticipated U.S. dollar stablecoin accessible to users on Tuesday, Dec. 17 following the token’s regulatory approval.
RLUSD will be initially listed on several exchanges and crypto platforms including Uphold, MoonPay, Archax and CoinMENA, the company said in a press release, with further listings on Bitso, Bullish, Bitstamp, Mercado Bitcoin and Independent Reserve, Zero Hash and others in the coming weeks.
The company also announced two additions to its stablecoin advisory board: Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery, former first vice president and COO of the Federal Reserve Bank of Boston. The pair join board members announced in October including Sheila Bair, former chair of FDIC, and Chris Larsen, co-founder and executive chairman and co-founder of Ripple.
The launch follows Ripple CEO Brad Garlinghouse’s announcement last week that RLUSD sealed «final approval» from the New York Department of Financial Services, paving the way for rolling out the stablecoin for the public from its test phase. RLUSD is fully backed by U.S. dollar deposits, U.S. government bonds and cash equivalents and aims to keep a steady price at $1.
With RLUSD, Ripple aims to compete for a piece in the rapidly growing stablecoin market, currently dominated by Tether’s $140 billion USDT and Circle’s $40 billion USDC tokens. Stablecoins are a key piece of infrastructure bridging digital asset markets and traditional finance, serving as liquidity for trading, vehicle for blockchain-based transactions and increasingly as a payment method across borders. Traditional financial institutions such as banks and payment companies including PayPal, Visa and Societe Generale have also entered the stablecoin space as regulators around the world put rules and guidelines in place for the asset class, bringing much-desired regulatory clarity.
“Early on, Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide,» Ripple CEO Brad Garlinghouse said in a statement. «As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry.»
RLUSD will be initially available in the Americas, Asia-Pacific, UK and Middle East regions via its distribution and exchange partners, Jack McDonald, senior vice president of stablecoin at Ripple, said in an interview with CoinDesk. He was CEO of Standard Custody & Trust, a company acquired by Ripple earlier this year that holds a New York Trust license.
The token won’t be accessible in the E.U. in the beginning as Ripple does not hold the necessary license under the bloc’s MiCAR regulations, but the company is «actively exploring» ways to enter the bloc’s market, he added.
RLUSD volatility warning
RLUSD, which aims to hold a $1 price, may see an unusual price volatility due to early demand from traders and limited supply.
«There may be supply shortages in the very early days before the market stabilizes,» David Schwartz, chief technology officer at Ripple, warned in an X post. He said that some traders «are willing to pay» as much as $1,200 token price to buy a fraction of RLUSD.
«Please don’t FOMO into a stablecoin,» he added. «This is not an opportunity to get rich.»
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Coinbase Outpaces S&P 500 With 43% June Rise as Stablecoin Narrative Grows: CNBC

Shares of Nasdaq-listed cryptocurrency exchange Coinbase (COIN) rose 43% this month, making the firm the top performer in the S&P 500 since it joined the index at the end of last month.
June’s run is already the stock’s best since November and caps three straight monthly gains. Coinbase’s shares reached their highest level since their public debut.
COIN hit a $382 high this week before enduring a slight correction, ending the week at $353 and seeing a slight 0.7% drop in after-hours trading to $351.
The wider S&P 500 index rose roughly 5% in June as geopolitical tensions eased.
Washington’s progress on the GENIUS Act, Congress’s first rulebook for dollar-pegged stablecoins, helped shift investor focus from trading fees to stablecoin revenue.
The bill brightened the outlook for Circle, whose shares hit a record high and saw its market cap near that of Coinbase this week.
Coinbase keeps all yield on USDC balances held on its platform and nearly half of other USDC income, equal to about 99 percent of Circle’s revenue, giving shareholders indirect exposure at no added cost, CNBC reported Friday, citing analysts including Citizens’ head of financial technology research Devin Ryan.
Trading, however, remains subdued. Average daily volume on Coinbase has drifted lower since April.
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Robinhood Launches Micro Bitcoin, Solana and XRP Futures Contracts

Robinhood (HOOD) has introduced micro futures on bitcoin (BTC), solana (SOL) and XRP in the United States., expanding its existing crypto futures offering for its nearly 26 million funded accounts.
Micro contracts need far less collateral than full-size futures, letting traders take directional positions while committing a smaller slice of capital.
The contracts offer traders more flexibility to bet on a cryptocurrency’s future price direction or hedge current positions given their smaller size.
The launch rounds out a futures suite that began with BTC and ETH in January. It also comes weeks after the firm closed its $200 million purchase of Bitstamp and finalized a $179 million deal for Canada’s WonderFi.
Robinhood’s data shows that crypto notional volumes have exploded upward over time, reaching $11.7 billion in May. The figure marks a 36% rise month-over-month, and a 65% growth year-over-year.
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Why is XRP Up Today? Trio of Catalysts Sees Token Outperform Wider Crypto Market

XRP climbed 5.5% to $2.19 in the last 24 hours after a trio of catalysts converged to help the cryptocurrency outperform the wider cryptocurrency market.
One of the catalysts was launch of XRP micro futures on Robinhood. The contracts offer traders more flexibility to bet on the cryptocurrency’s future price direction or hedge current positions given their smaller size.
Regulatory fog also thinned. On Friday, Ripple withdrew its cross-appeal in its long-running U.S. Securities and Exchange Commission (SEC) lawsuit. The SEC sued Ripple back in 2020 over its XRP sales, alleging these violated securities laws. The SEC is expected to drop its own appeal, leaving last year’s ruling, ordering Ripple to pay a $125 million civil penalty to the SEC, intact. The move could lift a lid that had kept some investors on the sidelines.
On-chain data rounded out the bullish setup. The XRP Ledger logged over a 1.1 million active addresses over the past week according to crypto analyst Ali Martinez, who cited Glassnode data.
XRP’s rise saw it outperform the wider crypto market, with the broader CoinDesk 20 (CD20) index rising 1.7% in the last 24 hours.
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