Stablecoins Soar to $2T: A Tale of Crypto and Human Folly

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Amidst the bustling chaos of the modern financial world, Ripple CEO Brad Garlinghouse, a man of considerable foresight and perhaps a touch of audacity, has declared that the stablecoin market, currently a modest $250 billion in market capitalization, is poised to swell to a staggering $1 to $2 trillion in a mere handful of years. 🤑

“Many people think it will reach $1 to $2 trillion in a handful of years,” Garlinghouse mused on CNBC’s “Squawk Box,” his eyes perhaps glinting with the promise of untold riches. The growth, he assured us, has been “profound,” and Ripple, having joined the market late, is now leveraging stablecoins in its payment flows for institutional customers. 🏦

“We can participate in this [stablecoin] market given our institutional background and regulatory compliance,” he said, a statement that might have been more convincing if it didn’t sound like a line from a dystopian novel where corporations rule the world. 🌍

The announcement came as Garlinghouse revealed that BNY Mellon would be Ripple’s stablecoin custodian for its Ripple USD dollar-pegged asset. Ripple, never one to rest on its laurels, launched its own enterprise-focused stablecoin, RLUSD, in late 2024. Since then, its market capitalization has grown to $500 million, a milestone it reached on Wednesday. 🚀

Huge growth for stablecoins

Apollo Capital’s chief investment officer, Henrik Andersson, a man whose optimism is as boundless as the Russian steppes, agreed with Garlinghouse’s prediction. “The $1-2 trillion market cap for stablecoins is in line with our prediction,” he told CryptoMoon, his words dripping with the confidence of a man who has seen the future and found it profitable. 💰

“We are seeing fintechs, banks, social networks, and large retailers all launch their own stablecoins.”

Andersson, ever the astute observer, cited Tether’s profitability as a shining example of the lucrative nature of the business. “The next catalyst for stablecoin adoption will be the GENIUS Act in the US, which will make stablecoins legal tender,” he added, a statement that might have been more reassuring if it didn’t sound like the plot of a sci-fi thriller. 🚀💰

The stablecoin legislation, which passed a Senate vote in June, is likely to be made into law this month. “The crypto-friendly SEC, along with the GENIUS Act, can align the crypto industry to rapidly expand, with the potential for the stablecoin market to reach $1-2 trillion in market cap in a few years,” Nick Ruck, director at LVRG Research, told CryptoMoon, his words a testament to the boundless optimism of the human spirit. 🌠

Ripple banking license

Ripple, a company that has always walked the fine line between innovation and regulation, is aiming to become fully compliant in the US so that it can operate under the same framework as banks and financial institutions. Earlier this month, Ripple applied for a banking license with the US Office of the Comptroller of the Currency (OCC), a move that might have been more surprising if it didn’t feel like the inevitable conclusion of a long and winding road. 🏦

The firm has also applied for a Federal Reserve Master Account, Garlinghouse revealed, adding, “We think that the key thing for crypto and decentralized finance […] is building bridges between traditional finance and DeFi.” A statement that, while noble in intent, might have been more convincing if it didn’t sound like a plea for acceptance from a child who has been playing in the sandbox for too long. 🏃‍♂️💨

XRP hits seven-week high

This week, Ripple announced that its stablecoin has received a significant boost by integrating with Transak, a major cryptocurrency payments platform. The firm’s cross-border payments token XRP (XRP) has rallied 7% since Monday and was trading at $2.42 at the time of writing, its highest price for seven weeks. A small victory, perhaps, but one that might just be the harbinger of greater things to come. 📈

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2025-07-10 07:35