Ripple (XRP) Prepares to Launch RLUSD Stablecoin: Targeting the Market Dominated by Tether (USDT)

Recent comments from Ripple CEO Brad Garlinghouse shared on X by Coindesk suggest the company might launch the highly anticipated Ripple USD (RLUSD) stablecoin sooner than many expect.

Ripple CEO Brad Garlinghouse recently hinted at the imminent launch of the Ripple USD (RLUSD) stablecoin during an interview with X by Coindesk at Korea Blockchain Week.

According to Garlinghouse, the launch is expected within "weeks, not months." This marks a significant development for Ripple as it enters the flourishing stablecoin market.

RLUSD, fully backed by U.S. dollar assets, will be available on both the XRP Ledger (XRPL) and the Ethereum blockchain. It will be integrated into the XRP Ledger, which is known for its efficiency in cross-border payments, and will introduce Ethereum-compatible smart contracts.

This enhancement will enable on-chain exchange creation, token issuance, and access to various financial services. Additionally, work is underway on an EVM Sidechain to further boost XRPL interoperability.

The launch of RLUSD is particularly noteworthy as the stablecoin market becomes a focal point for regulators and market participants. Stablecoins, pegged to a reserve asset like the U.S. dollar, serve as a critical bridge between traditional finance and crypto.

With RLUSD's 100% USD backing, Ripple aims to provide a reliable option for users seeking stability in the volatile cryptocurrency market. This is especially relevant amid rumors that Tether (USDT) has been issuing stablecoins without USD backing.

When this bubble bursts, it could benefit major altcoins like XRP, and RLUSD could offer an alternative for investors seeking a stablecoin haven. Garlinghouse's announcement brings the community closer to the launch of this highly anticipated stablecoin.

: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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