In a recent post on the social media platform X, Brad Garlinghouse, CEO of San Francisco-based blockchain giant Ripple, stated that blockchain technology is transforming finance. Ripple is revolutionizing finance and payments The post emphasized Ripple’s role in this transformation, noting that the changes blockchain brings are not limited to finance alone: “Blockchain is changing finance…and just about everything else, too. ” Included was a brief video ad showcasing Ripple’s key operational areas: “Payments. Custody. Stablecoin. ” Last year, Ripple launched a new product, its dollar-pegged stablecoin RLUSD, officially introduced in December. Ripple USD allows the company to address two of these core sectors — cross-border payments and stablecoins. RLUSD has been integrated into Ripple Payments, which previously relied solely on XRP for facilitating both domestic and international transfers across borders. Ripple’s RLUSD gains new exchange listings The cross-border payments market is currently valued at just under $32 trillion and is forecasted to reach $50 trillion within the next decade. By leveraging crypto, this payment system eliminates the need for multiple intermediaries such as banks, payment platforms, or fintech firms. Recently, RLUSD was added by major cryptocurrency exchanges.

Just this week, platforms Bitget and Euler Labs integrated support for Ripple’s new product. The XRP community reacted to the optimistic post with a flurry of comments, mixing enthusiasm and skepticism. Some users questioned the post’s meaning, asking for clarification: “How?What’s happening?What’s the context of this post?” Another user accused Ripple of selling XRP and flooding the market: “When are you dumping more tokens?” SEC drops lawsuit against Binance. US According to U. Today, the U. S. Securities and Exchange Commission (SEC) under its new leadership has dismissed its lawsuit against Binance’s American branch, Binance. US, the largest crypto exchange’s U. S. entity. In June 2023, the SEC filed a lawsuit against Binance. US and its former CEO Changpeng Zhao, accusing them of “artificially inflating trading volumes, diverting customer funds, and misleading investors about surveillance controls, ” Reuters reported. Now, the regulator has dropped this case, following its earlier dismissals of legal actions against Coinbase and Kraken this year.