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Ripple CEO Highlights How Ripple’s Stablecoin Can Beat USDC

Ripple CEO Brad Garlinghouse has expressed strong confidence in the company’s upcoming stablecoin, stating that it has the potential to capture a significant share of the rapidly growing market.

In a recent video, Garlinghouse emphasized his belief in the stablecoin’s potential, despite not revealing its official name yet. He cited the significant market share and growth potential as reasons for his excitement. This confidence stems from Ripple’s robust financial position, which Garlinghouse believes will be crucial in maintaining the stablecoin’s peg to the U.S. dollar.

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Contrasting USDC’s Depegging

Garlinghouse further highlighted the challenges faced by Circle’s USDC stablecoin when it briefly lost its peg to the dollar last year.

In March 2023, USDC dipped to an all-time low of $0.87 following the collapse of Silicon Valley Bank (SVB), which held 25% of its reserve. While Circle assured investors of its commitment to maintaining the peg, the recovery took several days.

Ripple’s Financial Advantage

Garlinghouse attributed the difficulty in restoring USDC’s peg to Circle’s limited financial resources. Circle’s assurances to investors, were not enough to immediately stabilize the coin’s value.

This suggests that Circle lacked the readily available funds necessary for swift intervention. In contrast, Ripple boasts a significantly larger balance sheet, estimated to be between $20 billion and $30 billion.

This robust financial standing, according to Garlinghouse, would allow Ripple to act swiftly and decisively to restore the peg of its stablecoin in the event of a similar crisis. This ability to react quickly and decisively, Garlinghouse argues, is crucial for maintaining investor confidence in the stability of the pegged asset.

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Market Landscape and Competition:

The $161 billion stablecoin market is currently dominated by Tether (USDT) with a valuation of $111.95 billion, followed by USDC at $32.34 billion.


Despite facing established players like USDT and USDC, Garlinghouse remains confident that Ripple’s upcoming stablecoin will carve out a significant position in the market projected to reach a staggering $2.8 trillion by 2028.

With its strong financial backing and focus on maintaining a stable peg, Ripple’s upcoming stablecoin has the potential to disrupt the market and capture a significant share of the rapidly growing sector.

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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

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