Ripple vs Tether: Will Ripple go on the attack against the Stablecoin king?

Ripple wants to compete with major player Tether (USDT) with its new Stablecoin, RLUSD. Read more about this battle between the two crypto giants.

Ripple Labs no longer has only XRP in its portfolio. The company announced the launch of the Stablecoin RLUSD (Ripple USD) and is working with several crypto-exchanges to make the new token available worldwide.

Ripple has well-known names such as Bitstamp, Uphold, Bitso, MoonPay, Independent Reserve, CoinMENA and Bullish as partners for RLUSD, a stablecoin denominated in U.S. dollars. This ambitious project is a direct challenge to established tokens such as USDT and USDC.

Ripple CEO Brad Garlinghouse stated, "With our first exchange partners, the clear benefits and demand for RLUSD, and with a strong focus on regulatory compliance, Ripple-Stablecoin is well on its way to becoming the gold standard for stablecoins in the enterprise world."

Meanwhile, XRP's share price is reacting cautiously. Currently, XRP is trading at $0.544, up 1.68 percent from yesterday. Ripple's RLUSD Stablecoin is launched on both the XRP ledger and the Ethereum Blockchain. Ripple began issuing RLUSD in late September, and it is positioned as a "serious alternative" to Tether and Circle tokens.

Stablecoins have a total market capitalization of more than $173 billion, with almost all leading tokens linked to the U.S. dollar, and only a few to the euro or gold. Despite criticism and regulatory ambiguities, USDT remains the third largest cryptocurrency after Bitcoin and Ethereum, with a market capitalization of $119 billion.

Although Tether and Circle are still dominant, Ripple can capture significant market share by targeting the highly regulated European