Ripple USD Challenges Stablecoin Norms with Regulatory Strength

- Evaluation of Ripple USD as a Game Changer in Stable Coins - Trust Reinforced by NYDFS Approval and Regulatory Compliance [Unblock Media] Ripple's stablecoin (Ripple USD), launched on December 17, is expected to bring significant changes to the international remittance market. The trust in this stablecoin has been further strengthened as it has passed the approval process of the New York State Department of Financial Services (NYDFS) and has been added to the list of regulated stablecoins. NYDFS applies very stringent standards for investor protection and financial crime prevention, and Ripple has enhanced its financial transparency and compliance monitoring systems to meet these criteria. For instance, Ripple strengthened its regular auditing and internal control processes to meet the regulatory standards required to receive NYDFS certification. Consequently, Ripple USD is evaluated as a fully regulated stablecoin. In the competitive landscape with Tether's USDT and Circle's USDC, the strengths of Ripple USD are noteworthy. Tether's USDT is the most widely used stablecoin on exchanges, excelling in transaction speed and liquidity. However, Tether is frequently embroiled in regulatory compliance issues, whereas Ripple has overcome this by obtaining NYDFS certification for its stablecoin. Circle's USDC emphasizes regulatory compliance to secure trust, but it faces technical disadvantages compared to Ripple due to its lack of a proprietary blockchain. Ripple's XRP Ledger offers high transaction speeds per second and low fees, reducing dependence on third parties through its blockchain technology. For example, the average transaction completion time can be reduced from several minutes to a few seconds. Additionally, using Ripple's technology can result in lower fees for international remittances, achieving cost savings. Ripple's blockchain technology provides high security, a crucial factor in financial transactions. In conclusion, the launch of Ripple USD has a high potential to bring a strong shift in the stablecoin market. Ripple's ability to offer a comprehensive package through regulatory compliance and proprietary blockchain technology places it in a favorable position compared to its competitors. Consequently, Ripple's position in the international remittance market could become even stronger.