At the Korea Blockchain Week, Brad Garlinghouse, CEO of Ripple, made a statement revealing that Ripple is expected to launch its own USD stablecoin in weeks rather than months.
Consequently, the statement about Ripple’s USD Stablecoin ($RLUSD) sent a shockwave of excitement within the crypto community. Just when you thought XRP had reached the pinnacle of success, it surprised the crypto world again with a new development that set the bar even higher.
🚨JUST IN: @Ripple USD Stablecoin ( $RLUSD ) Could be Issued in ‘Weeks, Not Months’: Says Brad Garlinghouse pic.twitter.com/ryb9VqUdpw
— JackTheRippler ©️ (@RippleXrpie) September 4, 2024
XRP’s Crypto Position Strengthened
According to Garlinghouse’s statement, the development and testing phase of this stablecoin must be in its final stages and is opening doors for a quick release. Rolling out an XRP-based stable coin will provide users with a secure, trustworthy, and stable investment.
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Previously, XRP CTO David Schwartz spoke at the XRP Ledger Apex 2024 and showed the progression of how the tokenized assets would be worth $16 Trillion by 2030!
🚀 BÄÄÄÄÄÄÄÄÄÄÄÄM! 💥
David Schwartz just dropped a bombshell on stablecoins: “$16 TRILLION in tokenized assets by 2030!” 📈✨
And guess what? #Ripple‘s ‘RLUSD’ is set to dominate the entire stablecoin market! 🌟💸 #XRP pic.twitter.com/lyibWFVB9N
— Collin Brown (@CollinBrownXRP) September 3, 2024
Launching the stablecoin soon will further help XRP enhance its presence and strengthen its foothold in the crypto world.
Ripple USD ($RLUSD), A Game Changer for the Crypto Market
However, details on the stablecoin’s release date, distribution method, and use cases remain unclear. Nevertheless, XRP’s reputation and extensive network of partners, including banks and financial institutions, indicate that this move will have a substantial influence on the crypto market.
This launch is likely to have a profound effect on the market, which could result in improved stability, wider adoption, diverse applications, and increased collaborations, leading to innovations and advancements.
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