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Ripple, a leader in blockchain-based payment solutions, has partnered with the International Rescue Committee (IRC). According to a post on X, the partnership will enable Ripple to explore the potential of blockchain technology in enhancing humanitarian aid delivery. Both organizations have committed $1 million to advance their goal of improving cash relief and fund transfers in crisis zones.Ā
Ripple and the IRC plan to work together to explore how RLUSD, Rippleās stablecoin tied to the U.S. dollar, can improve the efficiency of cash transfers during emergencies. Rippleās payment solutions could also reduce friction in cross-border transfers. This ensures that aid reaches those who need it most in a timely and reliable manner.
XRP Has Been Added to MoonPay
The exact launch date of RLUSD is still uncertain. However, Ripple and the IRCās commitment signals a promising step toward using blockchain in humanitarian efforts. This partnership recognizes digital assets and blockchain as powerful tools for addressing global challenges.
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In a separate post on X, Rippleās native cryptocurrency, XRP, has gained official integration into MoonPay, a leading crypto payments platform. Users can now buy, store, and manage their XRP via their MoonPay accounts. Notably, this integration will make it easier for users to use XRP on different platforms. Ripple continues to merge blockchain innovation with real-world applications, from humanitarian aid to making cryptocurrency more accessible.
Ripple Intensifies RLUSD Testing After SEC Victory
Ripple began its testing phase for RLUSD on August 9th.Ā So far, Ripple has recorded over 1200 RLUSD burns or transfers to inactive wallets. Meanwhile, Ripple CEO Brad Garlinghouse clarified that RLUSD is yet to receive regulatory approval. This means the token is not available for purchase or trading. Nevertheless, the varying volumes and frequency of mints suggest that Ripple is intensifying its testing efforts.
Monica Long, Rippleās president, said in a June interview that RLUSD has great potential in settlement solutions. She highlighted that Rippleās tokens XRP and RLUSD will operate independently, each addressing distinct use cases. The surge in activity followed Rippleās victory in its long-standing case against the U.S. Securities and Exchange Commission (SEC).
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Industry Veterans Guide RLUSDās Path Forward
Recently, Ripple announced the formation of an RLUSD Advisory Board. This board consists of industry experts who will guide the stablecoinās entry into the market. The board includes former U.S. Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, David Puth, former CENTRE Consortium CEO, and JPMorgan executive. Chris Larsen, Rippleās co-founder, is a member of the board. Together, they will help shape RLUSDās growth and adoption strategy.
Similarly, Ripple revealed its new partners. They include Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish. The firm also mentioned that market makers B2C2 and Keyrock will support the liquidity of RLUSD, setting the stage for its launch.
