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๏ปฟAnjali Belgaumkar
๏ปฟAnjali Belgaumkar
Author
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto โEnthusiastโ but trust me I'm getting there.
- Dec 12, 2024 05:11 UTC
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Ripple News: RLUSD Stablecoin Approved, Is XRP Meme Coin Listing Next?
Rippleโs RLUSD receives NYDS approval, enhancing its regulatory standard and transparency, making stablecoins a strong option for cross-border payments.
XRPโs higher token launch costs could reduce scams, promoting more legitimate projects as meme token activity increases and listings become possible.
Ripple is excited about the success of RLUSD as they recently received NYDS approval, which is a big step forward. This approval gives RLUSD a high regulatory standard, and the transparency offered by audits will be appealing to users.
Experts believe stablecoins will play a key role in cross-border payments and solve many of the problems with traditional payment methods. Stablecoins are fast, available 24/7, borderless, and transparent, which makes them a strong option for the future of payments.
XRP Meme Tokens: Could Listings Be Coming Soon?
On the other hand, XRP is starting to see increased activity with meme tokens, raising questions about whether these tokens might eventually be listed on platforms. Nancy Beaton, President of Uphold U.S., confirmed that Uphold has already listed several meme tokens.
On The Paul Barron Network, she explained that Uphold has a thorough process for listing tokens. They actively seek out tokens in the market, and people can also submit their tokens for review. However, only around 30% of the tokens they review get approved for listing. Beaton also encouraged meme token creators to reach out to Uphold so they can begin the due diligence process and potentially make their tokens available to Uphold customers.
- Also Read :
- XRP Price Prediction For December 12
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XRPโs Higher Token Launch Costs Could Reduce Scams
An X user pointed out that creating a meme coin on XRP requires 123 XRP, and as the price of XRP increases, it will become more expensive to launch a token. For example, if XRP hits $10, it would cost $1,230 to create a token. This increase in cost could reduce the number of scams and promote more legitimate projects.ย
In comparison, launching a token on Solana is much cheaper, which has led to many low-quality and scam tokens. The user believes that while there may still be some bad projects on XRP, the higher cost will likely reduce scams and contribute to a more trustworthy market.
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FAQs
Ripple RLUSD is a stablecoin approved by NYDS, offering high regulatory standards, transparency, and audits, making it a trusted digital asset.
The high cost of launching a token on XRP (123 XRP) may reduce scams, promoting more legitimate projects compared to cheaper platforms like Solana.
Yes 
No 
