Ripple CEO Reacts as RLUSD Launch Date Revealed

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As a seasoned crypto investor with a knack for spotting promising opportunities, I find Ripple‘s announcement of their enterprise-grade stablecoin, RLUSD, nothing short of intriguing. With my years of experience navigating the volatile crypto market and witnessing the rise and fall of numerous projects, I am cautiously optimistic about this development.

Brad Garlinghouse, CEO of Ripple, has shown enthusiasm regarding the debut of the Ripple-issued stablecoin, RLUSD, referring to it as “a high-quality stablecoin accessible to all.” On December 17, 2024, Ripple announced that RLUSD will be tradeable on international exchanges from this very day.

Tomorrow, I’ll be able to get my hands on Ripple USD ($RLUSD) through platforms like Uphold, MoonPay, CoinMENA, Archax, and Bitso. Soon after, it will also be available on Bullish, Mercado Bitcoin, ZeroHashX, IndePreserve, and Bitstamp. This enterprise-grade stablecoin is designed for everyone, making it a great addition to my crypto portfolio.

— Brad Garlinghouse (@bgarlinghouse) December 16, 2024

In a press release on December 16th, remarks made by the CEO of Ripple were emphasized. These comments underscored Ripple’s initial strategy to introduce their stablecoin under the supervision of the New York State Department of Financial Services (NYDFS), and hinted at anticipation for widespread adoption: “From the outset, we deliberately opted to debut our stablecoin under the NYDFS limited purpose trust company charter, a regulatory standard often seen as the most prestigious globally. As U.S. regulations become more clarified, we believe there will be increased adoption of stablecoins such as RLUSD, which provide genuine utility and are backed by decades of trust and experience in the industry.

The RLUSD digital coin can be found on both the XRP Ledger and Ethereum blockchain platforms, offering versatility and expandability for numerous financial applications. Significant partners in the RLUSD ecosystem would consist of prominent international exchanges, market makers, and payment service providers. This alliance is expected to boost the adoption and utility of RLUSD across regions such as the Americas, Asia-Pacific, U.K., and the Middle East.

At present, Ripple has made an announcement, coinciding with a surge in interest for stablecoins. As per Ripple’s projections, the total market value of stablecoins could soar to an astounding $2 trillion by 2028, given the growing appetite for tokens that have minimal price fluctuations and are tied to real-world currencies.

What’s next?

Initially, RLUSD can be found on Uphold, Bitso, MoonPay, Archax, and CoinMENA. In the near future, it will also become available on platforms like Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash. More listings are expected to appear on additional platforms within the next few weeks.

Raghuram Rajan, a previous Governor of the Reserve Bank of India, and Kenneth Montgomery, who once served as First Vice President and Chief Operating Officer at the Federal Reserve Bank of Boston, are set to join the advisory board of RLUSD. Their role will involve offering strategic advice on regulatory, financial, and operational matters that aim to bolster RLUSD’s strength and expansion.

From next year onwards, as an analyst, I will be part of the team at Ripple Payments who are planning to introduce RLUSD for facilitating global payments for our enterprise clients. To date, Ripple Payments has handled a staggering $70 billion in payment volumes, with almost universal coverage across 90 payout marketplaces worldwide. This extensive network accounts for over 90% of the daily foreign exchange market, making us a significant player in the global financial landscape.

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2024-12-17 15:26