Cardano Offers Free Integration of Ripple's RLUSD Stablecoin

Cardano founder Charles Hoskinson has announced that Cardano is ready to integrate Ripple's new stablecoin, RLUSD, onto its blockchain

Cardano is offering free integration of Ripple’s new stablecoin, RLUSD, onto its blockchain, aiming to strengthen ties between the two crypto communities.

What Happened: Cardano founder Charles Hoskinson revealed that discussions are ongoing between the Cardano and Ripple teams to determine the best technical approach for integrating RLUSD onto the Cardano network.

"We believe in XRP DeFi and love the community," stated Hoskinson, known for his advocacy for open interoperability and cross-ecosystem growth.

Highlighting the importance of a stablecoin for XRP's DeFi ambitions, Hoskinson added, "We said, ‘Look, we’re here to help. We’d like to find a path to get real USD on Cardano. It’s important for the XRP community and we’re happy to participate in the integration.’"

The integration paths are still being explored, with options such as deploying RLUSD using LayerZero's routing infrastructure or issuing it directly on Cardano being discussed.

"We said we’d handle the integration for free because we like the XRP community and we’d be happy to do it," explained Hoskinson, emphasizing that final decisions depend on the feasibility and alignment of both ecosystems. "It has to make sense for both parties."

While talks with Ripple continue, Cardano is also open to partnerships with other stablecoin projects to introduce more stablecoins on its network.

"We’re open to partnering with other stablecoin projects to bring stablecoins to Cardano to strengthen our DeFi offerings and provide more utility for our users," a Cardano spokesperson told Benzinga.

Why It's Important: The integration of RLUSD on Cardano could open up new possibilities for users of both ecosystems, enabling seamless cross-chain transactions and DeFi applications.

The partnership would also serve to foster a spirit of collaboration and mutual support between the Cardano and XRP communities, two of the most prominent and engaged in the crypto space.

Later this year, Cardano plans to introduce its own stablecoin, named "Cardano USD," aiming to provide a stable and reliable currency option for users of the Cardano ecosystem.

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This article is part of Benzinga's efforts to serve the community with broader coverage of the DeFi and Web3 technologies. Benzinga does not provide investment advice. Readers are encouraged to perform their own due diligence.