Ripple CEO unveils name of upcoming stablecoin RLUSD
Ripple CEO Brad Garlinghouse has announced the name of the company's upcoming stablecoin, RLUSD, at the XRP Ledger Community Summit in Amsterdam. The RLUSD will be a dollar-pegged stablecoin available on the XRP Ledger and Ethereum. Ripple's development arm, RippleX, is also developing the XRPL EVM Sidechain, which will bring Ethereum Virtual Machine compatibility to the XRP Ledger. This sidechain aims to open new opportunities for developers on the XRP Ledger, particularly in DeFi and real-world asset tokenization. The XRPL EVM sidechain will connect to the XRPL mainnet via a bridge, using wrapped XRP as the native asset and gas token. The Axelar bridge will be the exclusive bridge for sourcing the sidechain’s native gas token and will also support the transfer of other fungible tokens to and from the XRPL mainnet. Ripple’s engineering team will collaborate with Peersyst to support the EVM sidechain launch.
