Demex Daily #216: Ripple Begins Beta Testing of RLUSD Stablecoin on XRP Ledger and Ethereum

What’s Interesting Today:

Ripple has started beta testing its new stablecoin, Ripple USD (RLUSD), on the XRP Ledger and Ethereum mainnet, aiming to enrich the XRPL with high-quality assets and enhance liquidity and use cases. Currently in beta, RLUSD is undergoing rigorous tests to ensure security, efficiency, and reliability before wider release and regulatory approval. The stablecoin is not yet available for purchase or trading, and Ripple warns against scams claiming early access to RLUSD sales. Ripple USD, pegged 1:1 to the US dollar and backed by US dollar deposits, government treasuries, and other equivalents, will eventually support Ripple's cross-border payment solutions. Ripple plans to provide monthly attestations of reserve assets audited by third parties to ensure transparency.

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The Stacks Foundation has announced August 28 as the new target date for initiating the activation sequence of the Nakamoto upgrade on the Stacks network, a Bitcoin scaling-layer project. This upgrade, which has faced months of delays, promises enhancements in security and speed, increased transaction throughput, "100% Bitcoin finality," and measures to mitigate Bitcoin miner extractable value (MEV). Additionally, the upgrade will facilitate the mainnet release of sBTC, a non-custodial, programmable Bitcoin-backed asset, approximately four weeks after the Nakamoto hard fork. Initially planned following Bitcoin's latest halving, the rollout required an additional eight weeks of development to integrate new information and practical network experience.

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