XRP surged over 6% today after the US House of Representatives voted to advance the GENIUS Act stablecoin bill and CLARITY Act. The rally pushed XRP within 9% of its all-time high, as the altcoin continues its strongest moves in months.
Ripple’s ecosystem stands to benefit directly from the bill’s passage. The company has positioned its RLUSD stablecoin to comply with the GENIUS Act’s proposed rules.
GENIUS Act Aligns With Ripple’s RLUSD Roadmap
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The GENIUS Act creates a federal framework for stablecoins. It requires full reserve backing, regular audits, and issuer licensing through US regulators.
Ripple has already taken steps to meet these requirements. The company applied for a national trust bank charter and a Federal Reserve master account.
It also announced BNY Mellon as the official custodian for RLUSD reserves. The assets include US Treasuries, cash, and money market funds.
If GENIUS passes, Ripple’s RLUSD could quickly qualify as a federally compliant stablecoin. This would give Ripple a first-mover advantage in regulated stablecoin issuance.
That makes XRP more useful as a liquidity bridge between regulated assets.
XRP Price Positioned to Benefit from RLUSD Growth
XRP plays a core role in Ripple’s liquidity products. As RLUSD adoption grows, XRP can facilitate real-time FX swaps and stablecoin conversions.
Ripple already supports stablecoin activity on the XRP Ledger. The GENIUS Act could increase volume on-chain, driving further XRP demand.
Today’s procedural win also reduces the influence of the SEC. The GENIUS Act assigns oversight to the Treasury and OCC, bypassing SEC authority.
source : https://beincrypto.com