Notable crypto investor Cheeky Crypto (@CheekyCrypto) recently drew attention to Ripple’s ambitious plans for stablecoins, sharing a CNBC interview with Ripple President Monica Long. In the video, Long outlined Ripple’s readiness to launch its highly anticipated RLUSD stablecoin and its vision for stablecoins as a transformative payment force.
Long highlighted the rapid growth potential of the stablecoin market, which currently holds a market capitalization of about $1 billion but is projected to exceed $3 trillion within a few years. According to Long, this surge will be driven by increasing use cases, particularly in payments.
She pointed to Stripe’s acquisition of Bridge as a signal of major payment players integrating stablecoins into their operations, reinforcing the growing demand for digital assets in mainstream financial systems.
Ripple’s achievements in this space were also emphasized. “We’ve processed more than $70 billion through digital assets,” Long said, underlining the company’s proven capabilities. Ripple sees stablecoins as central to this evolution and is poised to meet growing market needs with its RLUSD offering. “We have the use case and customers who already want to use stablecoins in payments,” she added.
🚨 BREAKING NEWS!
Ripple President Monica Long drops a bombshell on $RLUSD & $XRP:
💬 "Stablecoins for payments are the next massive trend—and Ripple is READY! We already have the use-case and customers lining up!"🔥📈 #XRP IS GEARED FOR A LEGENDARY PUMP! 🚀 pic.twitter.com/LWqjdQW94F
— Cheeky Crypto (@CheekyCrypto) December 7, 2024
RLUSD and Ripple’s Vision for Stablecoins
The launch of RLUSD, Ripple’s USD-backed stablecoin, will be a major step forward for the company. While the stablecoin is “operationally ready” according to Long, regulatory approval is a key factor delaying its rollout.
Long noted that Ripple is working with the New York Department of Financial Services (NYDFS) to finalize its trust application. Long emphasized the importance of regulatory compliance in ensuring the stablecoin’s success, a sentiment the company recently expressed when providing an update on the stablecoin’s status.
The community views RLUSD as a significant addition to the XRP Ledger (XRPL) ecosystem. Many believe the stablecoin will bolster XRP’s utility, particularly as a bridge asset on the network. Beyond these technical advantages, RLUSD is expected to draw increased attention to Ripple’s blockchain technology and expand its role in global payment solutions.
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A Growing Market, Not a Competition
Long dismissed the notion of directly challenging market leaders when asked about competition with existing stablecoins. Instead, she expressed confidence in the market’s ability to expand, creating room for new entrants like RLUSD.
“I expect the market to really expand,” she said, reinforcing Ripple’s growth-oriented approach rather than a zero-sum competitive strategy.
Ripple’s deliberate engagement with regulators reflects its commitment to fostering trust and compliance. This positions the company to take advantage of growing institutional interest in stablecoins, and experts believe RLUSD can significantly benefit XRP’s growth when it launches.
Disclaimer: 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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