Ripple Launches RLUSD: A Promising New Stablecoin

Ripple partners with leading exchanges to launch RLUSD! Learn how this stablecoin will change the global payments landscape and attract institutional investors.

Ripple USD (RLUSD), the new stablecoin from Ripple, has been anticipated since its first announcement. This stablecoin is designed to have an equivalent value to the US dollar and aims to facilitate cross-border transactions and provide stability in the digital asset ecosystem.

Understand fully about RLUSD, how it differs from other stablecoins, and when the RLUSD launch will be officially carried out by reading this article to the end.

What is RLUSD?

RLUSD is a type of cryptocurrency whose value is pegged to the US dollar. In contrast to cryptocurrencies such as Bitcoin whose value is very volatile, RLUSD is designed to have a stable value. This makes it a more reliable means of payment, especially for cross-border transactions.

How does RLUSD work? So, each RLUSD token is backed by US dollar reserves held in a separate account. This reserve will be regularly audited by a third party to ensure that the number of RLUSD tokens in circulation always corresponds to the value of US dollars held.

Some of the reasons why RLUSD was launched are:

1. Meet market needs: There is a high demand for stable and reliable stablecoins for various purposes, such as payments, asset tokenization, and DeFi.

2. Increasing adoption of blockchain technology: RLUSD is expected to accelerate the adoption of blockchain technology in the financial industry.

3. Connecting traditional and digital worlds: RLUSD can be a bridge between the traditional financial system and the world of digital assets.

RLUSD advantages

Capped by the US dollar, the value of RLUSD tends to be more stable than other cryptocurrencies. RLUSD is also backed by US dollar reserves guaranteed by the government.

Not only that, RLUSD can be used in various countries and regions through Ripple's partner network. This stablecoin is designed to meet strict regulatory standards, providing more confidence to users. RLUSD can operate on multiple blockchains, including XRP Ledger and Ethereum.

Who Supports RLUSD?

Several major crypto exchanges have expressed support for RLUSD, including:

1. Uphold: Popular multi-asset trading platform.

2. Bitstamp: One of the oldest and most trusted cryptocurrency exchanges.

3. Bitso: Latin America's leading cryptocurrency exchange.

4. MoonPay: Crypto payment infrastructure provider.

5. Independent Reserve: Australia-based cryptocurrency trading platform.

6. CoinMENA: A cryptocurrency exchange focused on the Middle East and North Africa.

7. Bullish: A cryptocurrency exchange backed by Peter Thiel.

The Future and Comparison of RLUSD with Other Stablecoins

With support from strategic partners and a focus on regulatory compliance, RLUSD has great potential to become one of the world's leading stablecoins. RLUSD can accelerate the adoption of blockchain technology in a variety of sectors, including finance, commerce, and real estate.

To provide a clearer picture of RLUSD's position in the market, we can make a comparison with other popular stablecoins such as USDT and USDC. Some aspects that can be compared include:

1. Guarantee Mechanism

RLUSD: Reportedly backed by US dollar reserves, short-term government bonds, and other cash assets. Ripple is committed to conducting monthly audits of these reserves.

USDT: Originally claimed to be fully backed by US dollars, however, there has been some controversy regarding the transparency of its reserves.

USDC: Reported to be fully backed by US dollars and equivalent assets, with monthly audits performed by major accounting firms.

2. Transparency

RLUSD: Ripple has expressed its commitment to transparency by conducting monthly audits of RLUSD reserves.

USDT: USDT's transparency has been a subject of debate, especially after several reports cast doubt on their claims of full reserves.

USDC: USDC is considered to have a higher level of transparency than USDT, with monthly audits conducted by large accounting firms.

3. Market Adoption

RLUSD: Still relatively new and has not yet reached the same level of adoption as USDT or USDC. However, with the support of major exchanges and Ripple's reputation, the adoption potential of RLUSD is huge.

USDT: USDT is the most widely used stablecoin in the world, with a huge market capitalization.

USDC: USDC is USDT's closest competitor and has gained widespread adoption across DeFi platforms and exchanges.

4. Regulation

RLUSD: Ripple has stated that RLUSD is designed to meet strict regulatory standards, including oversight from the New York Department of Financial Services (NYDFS).

USDT: USDT has faced several regulatory challenges, especially regarding its reserve claims.

USDC: USDC is generally considered more regulatory compliant than USDT and has received approval from various regulators.

5. RLUSD Competitive Advantages

Ripple Support: Ripple has an extensive network and experience in the blockchain industry.

Focus on institutions: RLUSD is designed to appeal to institutions with an emphasis on security, transparency, and regulatory compliance.

Integration with Ripple ecosystem: RLUSD can be integrated with Ripple's cross-border payment solutions and other products.

Potential Uses of RLUSD

Apart from cross-border payments, RLUSD has great potential for use in various other applications, such as:

1. DeFi (Decentralized Finance): RLUSD can be used as an underlying asset in various DeFi protocols, such as lending, borrowing, and yield farming.

2. Asset tokenization: RLUSD can be used to tokenize real-world assets, such as real estate, stocks, and commodities.

3. In-game payment: RLUSD can be used as currency in blockchain-based games.

Conclusion

The launch of RLUSD is an important step for Ripple and the cryptocurrency industry as a whole. With support from strategic partners and a focus on regulatory compliance, RLUSD has the potential to become one of the world's leading stablecoins.

However, the success of RLUSD will also depend on several factors, such as market developments, regulatory changes, and Ripple's ability to continue to innovate.

The creation of RLUSD will also have a positive impact on XRP price, especially when it is launched. If you are one of the XRP token holders, you can feel happy about this innovation from Ripple. However, don't be careless buy XRP coins.

You still have to do research before deciding to invest completely in a token. Find out what the current condition is, and whether the value of XRP to USD is strengthening or not. Carry out a tactical strategy so you can invest according to your current financial condition.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

Asuene Selected as Official Solution Partner for Singapore's Emission Factor Registry

Supported by the Singapore Ministry of Trade and Industry, the Ministry of Sustainability and the Environment, the Enterprise Singapore, and the SBF Foundation, Asuene has been chosen as the official solution partner for Singapore Emission Factor Registry (SEFR), Singapore localized emission factor database. This partnership aims to enhance the accuracy of CO2 emission visibility in Singapore and fully support decarbonization management. Asuene Inc. (Headquartered in Minato, Tokyo; CEO Kohei Nishiwada) has announced that its Singapore branch, Asuene APAC , was selected as an official partner following the launch of the first phase of Singapore's localized emission factor database, the Singapore Emission Factor Registry (SEFR), announced on October 4, 2024.

The SEFR initiative, supported by Singapore's Ministry of Trade and Industry, Ministry of Sustainability and the Environment, Enterprise Singapore, and the SBF Foundation, was created to enhance the visibility of CO2 emissions, particularly improving the accuracy of Scope 3 calculations. Asuene has been recognized as an official partner in the "Carbon Calculators" category, based on its proven track record and the reliability of its solutions within Singapore, to promote the calculation of CO2 emissions for Singapore businesses.

Being selected as an official partner of the SEFR allows Asuene to lead the promotion of utilizing the "emission factor database," enabling more accurate visibility of CO2 emissions and supporting more refined decarbonization management in Singapore.

What is the SEFR (Singapore Emission Factor Registry)?

Organizations and leaders based in Singapore focused on decarbonization and sustainable practices, such as ESG management, have long faced significant challenges in visualizing CO2 emissions, particularly regarding the accuracy of Scope 3 calculations. Typically, "emission factors" are used for CO2 emissions visibility, but categories are organized differently in each country, and efforts to standardize the rules for emission factors are ongoing.

In Singapore, businesses currently use emission factors from other countries for CO2 emissions visibility, but there is no uniformity among businesses regarding which country’s factors to use. Additionally, using foreign emission factors presents a challenge, as they do not accurately reflect Singapore’s local circumstances. In other words, the rules for visualizing CO2 emissions for companies in Singapore are still in development. To address this, the Singapore Business Federation (SBF) and the Agency for Science, Technology and Research (ASTAR) have jointly developed the Singapore-localized emission factor database, SEFR.

The SEFR aims to consolidate a database of emission factors for use by Singapore businesses, expanding the available emission factors. These emission factors will be covering eight categories, i.e. building equipment, building materials, fuel, greenhouse gasses, land transport, purchased energy, waste, and water.

With the establishment of a localized emission factor database, Singapore businesses can now achieve more accurate visualizations of CO2 emissions than ever before, enabling the development of more realistic reduction plans.

As an official partner, we will incorporate the SEFR into our CO2 emissions visualization platform, Asuene, to enhance calculation accuracy for local businesses.

Comment from Masaaki Hamada, Managing Director of Asuene APAC

"I am thrilled that Singapore has developed and announced a localized emission factor database, which many countries in Asia aspire to do the same. With the establishment of the SEFR, many local SMEs will no longer struggle with calculation methods, and the accuracy of their calculations will improve. We anticipate that this SEFR will also be widely used in neighboring Southeast Asian countries, establishing Singapore as a leader in promoting decarbonization in the region."

About Asuene APAC Pte. Ltd.

Asuene Company Profile
Asuene Inc. is a leading Climate Tech company in Japan with the mission of ”Changing the world for the next generation”. We provide "ASUENE" a carbon accounting platform to measure, report and reduce carbon emissions of companies and we contribute to the net zero society.

Company name: Asuene Inc.
Representative: Co-Founder＆CEO Kohei Nishiwada
Date of establishment: October, 2019
Headquarters: WeWork, KDX Toranomon 1Chome Building 4F, 1-10-5 Toranomon, Minato-Ku
URL：https://asuene.com/apac

Tokyo's Culinary Gem Arrives in Paradise: Gyukatsu-Motomura Set to Open in Boracay

 

Gyukatsu Motomura, the renowned Japanese restaurant chain famous for its deep-fried beef cutlets, is inspiring the launch of a new concept restaurant in Boracay, set to open in November 2024. Bringing signature dishes and a unique dining experience to the popular island destination, the restaurant will be located at 0445 Zone 5, Road 1 Laketown, Balabag, Malay, Boracay. It aims to blend Japanese culinary excellence with the island's relaxed atmosphere, attracting food enthusiasts and boosting gastronomic tourism.

Boracay Island, Philippines - The world-renowned Boracay Island is preparing to welcome a taste of Tokyo with the highly anticipated opening of concept inspired Gyukatsu-Motomura Boracay. This authentic Tokyo-based restaurant, famous for its exquisite beef cutlets, is set to open its doors in November 2024, promising to elevate Boracay's culinary scene to new heights.

"We're excited to bring the flavors of Tokyo to the tropical paradise of Boracay," says Claudie Gica, manager of Gyukatsu-Motomura Boracay. "Our restaurant will offer a unique blend of Japanese culinary excellence and the laid-back charm of island life."

Located at 0445 Zone 5, Road 1 Laketown Balabag, Malay, Boracay, 5608 Aklan, Philippines, Gyukatsu-Motomura Boracay is perfectly positioned to serve both locals and tourists seeking an exceptional dining experience.

The restaurant's signature dish, the gyukatsu (deep-fried beef cutlet), has earned rave reviews from food critics and enthusiasts worldwide. Gyukatsu-Motomura's commitment to quality is evident in every aspect, from the selection of premium beef to the precise cooking techniques that result in a perfectly crispy exterior and a juicy, tender interior.

To celebrate its arrival in Boracay, Gyukatsu-Motomura is offering an exclusive opening deal. Diners can savor the flavors of Japan with their signature gyukatsu for only P988, a significant discount from the original price of P1288. This limited-time offer is sure to attract food lovers eager to experience Tokyo's culinary delights on Boracay's shores.

"We've designed our menu and atmosphere to complement the natural beauty of Boracay," Gica explains. "Whether you're a tourist looking for a unique dining experience or a local craving something new, Gyukatsu-Motomura Boracay offers a taste of Tokyo that perfectly complements the island's tropical allure."

As Boracay continues to evolve as a world-class tourist destination, Gyukatsu-Motomura Boracay is poised to become a must-visit spot for food enthusiasts and culture lovers alike. The restaurant isn't just serving meals; it's offering a journey - a chance to experience the heart of Tokyo without leaving the pristine beaches of Boracay.

Gyukatsu-Motomura Boracay is set to open its doors in November 2024. To take advantage of the exclusive opening offer and secure your spot, visit https://gyukatsumotomura.com/opening-soon. Early reservations are highly recommended as space is limited.

For more information on Gyukatsu-Motomura Boracay

Website: https://gyukatsumotomura.com/opening-soon

About Gyukatsu-Motomura Boracay

Gyukatsu-Motomura Boracay is positioning itself as a must-visit destination for food enthusiasts and culture lovers, offering a taste of Tokyo in a tropical paradise. Interested diners can make reservations and take advantage of the opening offer by visiting the restaurant's website at https://gyukatsumotomura.com/opening-soon