Ripple’s CEO Teases Upcoming RLUSD Stablecoin Launch
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At Korea Blockchain Week in Seoul, Ripple CEO Brad Garlinghouse shared that the company is nearing the launch of its new stablecoin, Ripple USD (RLUSD), which will be pegged to the U.S. dollar.
Garlinghouse revealed that Ripple is currently testing RLUSD in a private beta and expects to make it available within a few weeks. The stablecoin is being evaluated across two different blockchains and is intended to complement Ripple’s XRP tokens.
He also discussed the broader stablecoin landscape, referencing the devaluation of USDC 18 months ago as an opportunity for Ripple to enter the market with a stablecoin backed by a company already well-integrated with financial institutions.
The stablecoin market is currently led by USDT, which holds about 70% of the market share, followed by USDC at approximately 21%.
Regarding Ripple’s potential initial public offering (IPO) in the U.S., Garlinghouse expressed skepticism due to the SEC’s unfavorable stance toward the cryptocurrency industry.
He noted that while the SEC previously approved Coinbase’s IPO, it is now suing the exchange for actions it had earlier permitted. Garlinghouse advised entrepreneurs to avoid listing their crypto ventures in the U.S. to sidestep significant legal obstacles.
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