Ripple CEO Introduces RLUSD Stablecoin and XRPL EVM Sidechain at XRPL Community Summit
Ripple CEO Brad Garlinghouse announced the name of Ripple’s new stablecoin RLUSD at the XRPL Community Summit in Amsterdam on June 12. Ripple also introduced significant updates to the XRP Ledger (XRPL).
Ripple Challenges USDT/USDC! Announces Launch of Compliance-Driven Dollar Stablecoin
$RLUSD: Ripple’s New Stablecoin
EVM Compatibility and XRPL EVM Sidechain
Ripple Embraces Multi-Chain Future
Connecting XRPL with EVM Sidechains
During his keynote speech at the XRPL Community Summit, Garlinghouse unveiled Ripple’s new stablecoin, named $RLUSD. He stated, “I like to call it the real USD…Ripple USD.”
Additionally, Ripple emphasized the multi-chain future vision of blockchain technology and today announced the launch of XRPL EVM sidechain, bringing Ethereum Virtual Machine (EVM) compatibility to the XRP Ledger.
The XRPL EVM sidechain is expected to unlock numerous opportunities for developers, especially in the decentralized finance (DeFi) and real-world asset (RWA) tokenization areas. By achieving EVM compatibility, Ripple aims to drive innovation and enhance the network’s coverage and utility.
Integrating the XRPL EVM sidechain into the mainnet involves the use of bridging technology, where bundled XRP (eXRP) will serve as the native asset and gas token. This ensures seamless asset transfers between XRPL and EVM sidechains, thus improving interoperability and transaction efficiency.
Ripple has chosen Axelar as the sole bridge for the XRPL EVM sidechain to obtain native gas tokens (eXRP). Axelar will also facilitate bridging for other alternative tokens between the XRPL mainnet and its Axelar network of over 55 blockchains.
Ripple’s announcement of $RLUSD stablecoin and XRPL EVM sidechain represents significant progress in the blockchain space. These developments not only enhance the functionality and interoperability of XRPL but also position Ripple as a key player in the evolving digital currency landscape.
