Ripple CEO Shares Update on RLUSD Stablecoin at Major XRPL Event

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As a seasoned analyst with over two decades of experience in the financial industry, I must say that the recent developments at Ripple have caught my attention. Having followed the company since its early days, I am intrigued by their aggressive move towards launching their stablecoin, RLUSD. This is a significant step for any company, let alone one as established as Ripple, and it’s exciting to see them pushing the boundaries in the blockchain space.

During the exciting talks at the current Korea Blockchain Week, Ripple‘s CEO, Brad Garlinghouse, shared recent developments about the Ripple-issued USD stablecoin (RLUSD). This digital currency is designed to function on both the XRP Ledger and Ethereum blockchain network

At this gathering of industry influencers, coders, and tech aficionados, Ripple took center stage to reveal their cutting-edge technological breakthroughs and future plans

Is it time for Round 2 at Apex? The stage is set at #XRPLZone Korea as @bgarlinghouse and @joelkatz engage in a conversation. Topics range from the foundational years of the XRP Ledger to the potential of new programmability features, allowing XRPL developers to tailor their applications. They also share insights on the upcoming launch of the official RLUSD!— RippleX (@RippleXDev) September 4, 2024

At the XRPL Zone Korea gathering, as reported by RippleX, Brad Garlinghouse, Ripple’s CEO, and David Schwartz, its CTO, appeared on stage to share insights ranging from the initial development of the XRP Ledger to the potential benefits of new programmability for developers to customize their applications. They also discussed their future plans for the official launch of RLUSD (Ripple’s US Dollar-pegged token)

Ripple closer to launching RLUSD

According to the CEO, Brad Garlinghouse, Ripple is nearly ready to debut a stablecoin that’s tied to the US dollar. He hinted at an estimated launch timeframe within a few weeks

In April, Ripple disclosed its intentions to develop a stablecoin, stating that the digital currency would be fully collateralized with U.S. dollars, short-term U.S. government bonds, and similar financial instruments

Real Legacy USD (RLUSD) is being supported entirely by U.S. dollars. It’s currently being tested with business partners in a private setting. This digital currency, initially available on the XRP Ledger and Ethereum blockchain, follows the ERC-20 token standard of Ethereum

In 2025, Ripple and the wider XRP community aim to integrate new programmability features, such as smart contracts, into the XRP Ledger’s developer ecosystem. This will be achieved through the development of the XRPL EVM sidechain, which is already underway, and by investigating native capabilities directly on the XRP Mainnet

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2024-09-04 17:52