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Dubai, United Arab Emirates, December 17th, 2024, Chainwire Bybit , the world’s second-largest cryptocurrency exchange by trading volume, proudly participated in Bitcoin MENA, held on Dec. 9 to 10, 2024, at the ADNEC Centre in Abu Dhabi. Setting the stage for the conference, Bybit hosted its exclusive Horizon Night on Dec. 8, seamlessly transitioning guests from the excitement of the Abu Dhabi Grand Prix to the anticipation of Bitcoin MENA. On Dec. 10, Co-founder and CEO of Bybit, Ben Zhou, joined an insightful session on accessibility to BTC in the UAE. Titled “Improving Access to Bitcoin in the UAE”, the panel was moderated by Austin Alexander, formerly of Kraken MENA, and joined by Charmaine Lim from HTX. Zhou, a seasoned leader in the global crypto space, discussed the critical role of transparent, safe, and compliant platforms in enhancing access to bitcoin, a subject of increasing importance as the UAE solidifies its role as a regional hub for cryptocurrency innovation. During the panel, Zhou highlighted Bybit’s ongoing commitment to building secure, user-friendly platforms that align with regional regulatory standards. “The UAE is poised to be a leading player in the global cryptocurrency ecosystem. Bybit is dedicated to facilitating access to bitcoin and digital assets, ensuring that users in this region have secure, reliable, and transparent access to the market,” Ben Zhou said. The discussion focused on how the region’s growing interest in cryptocurrency can be supported through innovation and strategic collaboration, with insights on overcoming regulatory and technological challenges. Bybit and the Blockchain for Good Alliance also joined the conference as exhibitors, showcasing Bybit’s capabilities and Bybit-led initiatives for driving positive changes in the crypto space. Headquartered in Dubai, Bybit has actively participated in community engagements and the broader crypto ecosystem in the UAE. Bybit’s participation reaffirmed its role as a leading force in cryptocurrency exchanges, committed to fostering financial inclusion and expanding the reach of digital assets in the MENA region. Ben Zhou, Co-founder and CEO of Bybit at Bitcoin MENA, Abu Dhabi, 2024. Bitcoin MENA brought together the global crypto community and placed bitcoin at the centerstage of the state of crypto and its path forward. Featuring prominent changemakers and leading figures poised to shape the future of bitcoin, the event took place at a pivotal moment in bitcoin’s trajectory. #Bybit / #TheCryptoArk About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team. For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.com For more information, please visit: https://www.bybit.com For updates, please follow: Bybit’s Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube Contact Head of PR Tony Au Bybit tony.au@bybit.com
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RLUSD Stablecoin Goes Live: Price Fluctuates 20% Before Stabilizing
The post RLUSD Stablecoin Goes Live: Price Fluctuates 20% Before Stabilizing appeared first on Coinpedia Fintech News 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. 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. Ripple USD (RLUSD) is now live on global exchanges. An enterprise-grade stablecoin built for everyone, $RLUSD combines fiat stability with blockchain efficiency: Instant global payments, 24/7 Seamless on/off ramps Access value in real-world assets.… pic.twitter.com/lJ43GdoDGR — Ripple (@Ripple) December 17, 2024 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. Bitcoin World
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