Are We Going to See Ripple’s Stablecoin This Year?

The XRP community is buzzing with speculation about the upcoming release of Ripple's stablecoin, RLUSD.

However, a notable validator on the XRPL and co-founder of the NFT marketplace xrp.cafe, has set the record straight. He stated that RLUSD won’t be fully operational on the XRPL this year.

In a recent post, the validator, known as Vet, explained the technical limitations affecting the stablecoin’s launch. He mentioned that RLUSD may initially launch only on Ethereum or possibly on the XRPL without support for Automated Market Maker (AMM) functionalities. The reason for this is the stablecoin’s ‘clawback’ feature, which the XRP Ledger does not currently accommodate in its AMM.

Vet highlighted that two proposed amendments, XLS-73 and XLS-77, aim to enable clawback settings and enhance the control of trustlines, but the decentralized nature of the XRPL makes it difficult to predict when these changes will be implemented. He expressed enthusiasm for community engagement with the XRPL’s educational aspects rather than speculative discussions.

READ MORE:

How Might Recent XRP Ledger Updates Influence Ripple’s Stablecoin?

Ripple’s Chief Technology Officer, David Schwartz, confirmed Vet’s overall points but offered clarification regarding the functionality of XLS-77. He pointed out that the proposed deeper freeze may not be as comprehensive as suggested. Vet acknowledged Schwartz’s feedback and refined his terminology.

Additionally, when asked for clarification on whether the information about RLUSD was speculation, Vet confirmed that the technical barriers are indeed real and emphasized the uncertainty regarding its launch strategy.

Alexander Stefanov