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Seeds of Wisdom
RLUSD TO BE LISTED ON UPHOLD WITH 5% REWARDS—WILL ALL XRP USERS BENEFIT?
▪️ Ripple’s RLUSD stablecoin launches on Uphold on December 18 with 5% rewards starting January 2025.
▪️ RLUSD is backed 1:1 by USD reserves and approved by NYDFS.
Ripple’s new USD-backed stablecoin, RLUSD, will be fully launched on the Web3 financial platform Uphold on 18 December 2024. In January 2025, RLUSD will become part of Uphold’s Rewards Center, allowing users to be rewarded for holding the stablecoin. This launch is an important milestone for Ripple and its attempts to advance digital payment systems and bring value to XRP holders.
Uphold and Ripple Partnership
RLUSD is authorized and established under the New York Trust Company Charter and regulated by the New York Department of Financial Services. It is backed 1:1 by USD reserves and cash equivalents, a position that must be stable and reliable.
Maintaining stablecoin transparency is ensured through regular, preferably monthly, third-party audits. The stablecoin itself has enhanced enterprise-grade security. Ripple has also audited RLUSD’s smart contracts to improve safety and its reception by institutions.
Exclusive Rewards and User Benefits
Later in January 2025, RLUSD stored on Uphold will be eligible for several privileges from the platform’s Reward Center. The users will be paid 5% of the RLUSD holdings by simply browsing the platform, depositing assets, trading, and many other activities. Also, participants will be given a limited opportunity to get insight into all the top cryptocurrencies and first dibs on any new token sale.
Uphold has made the latest change in its Rewards Center, introducing a tier structure. Those specific users who have managed to get through all three levels will be given the opportunity to use RLUSD a full day before anyone else. This initiative corresponds to Uphold’s approach of involving people and providing utility to the XRP stakeholders.
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Future Expansion and Strategic Partnerships
Ripple’s RLUSD stablecoin, which will be accessible on MoonPay, Archax, and is going live on CoinMENA soon and on Bitso, Bitstamp, Bullish, and Mercado Bitcoin in the following weeks. Such a wide release is believed to help boost awareness and acceptance of RLUSD in different world markets.
Ripple has assembled an advisory board to steer the development of RLUSD, which includes Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery, former chief operating officer of the Federal Reserve Bank of Boston. Current members present at the platform include Sheila Bair, David Puth, and Chris Larsen, co-founder of Ripple.
As we have seen, with the introduction of RLUSD and its inclusion in Uphold, Ripple is again establishing its relevance in the digital payment systems’ ecosystem. Uphold maintains strategic participation in such platforms in line with its goals of providing genuine financial services in the blockchain industry.
@ Newshounds News™
Source: Crypto News Flash
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BRICS ISN’T THE REAL THREAT TO THE DOLLAR, THE US IS: HERE’S WHY
With the US president-elect targeting the BRICS bloc in 2025, many experts are worrying that the real threat to the US dollar lies eternally, not with BRICS. Donald Trump recently demanded that the BRICS nations “commit” that “they will neither create a new BRICS Currency nor back any other Currency to replace the mighty U.S. Dollar.” Trump also backed this threat with several tariff increases. However, could these backfire and harm the dollar more?
One Bloomberg analyst says that if Trump wants to maintain the dollar’s primacy, he should recognize that its value is not dependent on American power and threats, but on American reliability. How much could his incoming presidency harm BRICS, or the US dollar itself?
To Pursue or Not Pursue De-Dollarization: What are BRICS’ Plans?
South Africa released an official statement to affirm no common currency was planned. Furthermore, India’s foreign minister insisted that BRICS nations had “no interest in weakening the US dollar.” Even Russia’s President P---n said last month that the bloc isn’t aiming to destroy the greenback. That mission may still be carried through by the US itself though, putting the bloc in an advantage in 2025.
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The BRICS bloc’s true mission appears not to be hurting the US economy or to challenge the primacy of the dollar. They want to instead carve out a section of the financial system that isn’t subject to US power. The US, however, hasn’t done well to keep its native currency strong over the last few years. The 2020 pandemic saw the dollar weaken dramatically, and nations around the world grew frustrated with the currency.
Trump to do More Harm to US Dollar Than BRICS?
Additionally, Trump’s Tariff plan may also do more harm than good to the US economy. If enacted, the tariff could be the catalyst for inciting continued efforts to abandon the US dollar on a global scale.
In a post to Truth Social, Trump previously said, “We require commitment from these countries that they will neither create a new BRCIS currency to replace the mighty US dollar, or they will face 100% tariffs and should expect to say goodbye to selling into the wonderful US economy.”
Although BRICS nations have previously said that they would not seek to ditch the currency, Trump’s policies could drive a necessary recalculation of what would be best for these countries.
The imposition of Western sanctions drove Russia to initiate de-dollarization efforts through its BRICS alliance. The weaponization of the greenback saw the bloc further enhance trade deals, ultimately leading to the promotion of local currency trade. That will only enhance under Trump’s tariff plan.
Moreover, it will harm American industries. The current efforts to ditch the US dollar wouldn’t have the same effect on imports that the incoming president would.
Russian spokesperson Dmitry Peskov addressed Trump’s recent warning for the alliance specifically. “More and more countries are switching to the use of national currencies in their trade and foreign economic activities,” he said.
The global trade market is now as hungry as ever for a US dollar alternative. Several countries within BRICS are switching to local currencies, and even pursuing new reserve currencies not named USD.
With Trump looking to put an iron fist on BRICS and USD opposers, the damage and fears may start growing more from the inside than his targets. The US may no longer be the middleman for many countries in global trade soon if the US dollar is indeed abandoned.
@ Newshounds News™
Source: Watcher Guru
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WARNING MERGING SEC AND CFTC COULD COST YOU BILLIONS! | YouTube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Source: Dinar Recaps
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GOLD PRICE LIKELY SUPPRESSED BY CONCENTRATED SHORTING, COULD EXPLODE
At long last, complaints of gold price m----------n and suppression got some respect this week from the Official Monetary and Financial Institutions Forum, a London-based group connected with central banks.
The group published a long paper heralding gold’s restoration to the center of the world financial system, “Gold and the New World Disorder,” and the paper’s chapter titled “Market Disruption — The Short Squeeze” has this to say about the topic at hand:
“With record demand for gold, much of it from BRICS-related countries, the risks of a squeeze are increasing. This could have several catalysts.
‘Bullion banks’ holding concentrated gold short positions might need to buy back the metal during another price run.
Analysts have long argued that these short positions suggest market m----------n, citing the disproportionate control held by a few entities.
Lawsuits against banks for manipulating the precious metals markets have yielded some success in recent years. During these lawsuits, some former ‘bullion bank’ traders have commented about how these gold market strategies might make the market vulnerable to a short squeeze — either by accident or design.
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Academic and other studies provide evidence that ‘shorting gold’ has historically been used to suppress the gold price, often linked to central bank sales and futures contracts on commodity exchanges.
There is also room for market disruption from imbalances stemming from allocated and unallocated gold accounts, when market participants own just a claim on gold rather than specific bars.
Recent analysis suggests that the unallocated-to-allocated gold ratio at the London Bullion Market Association could range from 20:1 to even 100:1. For every ounce of physical gold backing these accounts, there might be 20 to 100 ounces of unallocated paper gold claims.
This indicates a fractional-reserve system where future claims may far exceed the physical gold available. Predicting the timing of such a squeeze is speculative, given the size of some of these positions and growing world financial and economic tensions.
However, with suspicions rising that some BRICS countries could be considering ‘weaponizing’ gold against the West, financial markets could be in for a bumpy ride.”
Ya think? The Gold Anti-Trust Action Committee (GATA) has been documenting and screaming about this for 25 years. For example, here and here.
If even these “official” guys now can acknowledge not only that the gold market has been heavily influenced by central banks and their bullion bank agents but also that the world has foolishly been depending on a lot of imaginary metal, the racket may be quickly coming to an end — no thanks to OMFIF itself, which for years has been ignoring all the incriminating information placed in the public domain by GATA.
@ Newshounds News™
Source: GoldSeek
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RLUSD STABLECOIN GOES LIVE: PRICE FLUCTUATES 20% BEFORE STABILIZING
Ripple USD (RLUSD) is officially live on global exchanges. This enterprise-grade stablecoin combines the stability of fiat with the efficiency of blockchain technology. RLUSD will operate on two networks: Ethereum and Ripple’s native XRP Ledger (XRPL). Initially, the price of the stablecoin fluctuated within a 20% range, but it is pegged to the U.S. dollar at a 1:1 ratio, ensuring stability over time.
Ripple CTO David Schwartz had previously said that there might be supply shortages at first, causing the price to fluctuate. However, once supply stabilizes, the price will quickly return to around $1.
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He also said, “Since the idea of $RLUSD many months ago to launch in a matter of hours, I’ve been looking forward to more use cases realized on the XRPL and more liquidity on-chain with a trusted stablecoin like RLUSD. Countless opportunities are here for devs and users who want the benefits of XRPL, RLUSD and XRP.”
The stablecoin will be available on exchanges like Uphold, Bitso, and CoinMana, with more expected by the end of the year. Ripple’s stablecoin is fully compliant and backed by US dollar deposits, government bonds, and cash equivalents. This provides the stability and transparency that many stablecoins have lacked.
RLUSD aims to bridge the gap between traditional fiat and crypto, offering benefits like instant cross-border payments, liquidity for remittance, and seamless integration with DeFi protocols. This is huge for XRP and the broader crypto ecosystem.
Ripple’s stablecoin will be a game-changer. It’s backed by years of experience in the financial system and offers a level of compliance and trust that’s currently unmatched. With major partners and exchanges expected to adopt it, RLUSD has the potential to challenge dominant stablecoins like Tether and USDC.
@ Newshounds News™
Source: CoinPedia
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CURRENCY REVALUATION UPDATES WHAT YOU NEED KNOW | YouTube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Source: Dinar Recaps
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