RIPPL's R-L-USD stable coin launches and is sparking a trading frenzy.

This is CoinDest Daily. I'm your host Christine Lee.

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possibility. Ready to take the leap, explore Zion today at zion.com. Ripple's R-L-USD stablecoin is

live on global exchanges Tuesday, attracting bids up to 836 RXP, worth over $2,000 at today's prices on XRP Wallet Shaman, despite

being pegged to just one U.S. dollar. Speculators often engage in high-price transactions for

small quantities of a new token or NFT as a digital collectible. Ripple Lab CTO David Schwartz posting

on X. As RLUSD goes live, there may be

supply shortages in the very early days before the market stabilizes. There actually is someone

willing to pay $1,200 per RLUSD for a tiny fraction of one RLUSD. Tools will show you the highest

price anyone is willing to pay, even if it's

just for a tiny bit. Maybe someone wants the honor of buying the first bit of RLUSD on the decks,

but rest assured, the price will come back to very close to $1 as soon as supply stabilizes.

If it doesn't, something is very seriously wrong. Meanwhile, the largest stable coin issuer, Tether, is investing in Mika-compliant stablecoin issuer Stable R,

marking its second investment in a European stablecoin issuer in a month.

Stable R issues Euro and US dollar stable coins and has an electronic money institution license in Malta,

a key step to comply with European regulations.

EU-wide digital asset regulations called Mika will enter into force by the end of the year,

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