Wavy President Monica Long We recently shared information about Ripple’s long-awaited stablecoin, RLUSD, and its implications for XRP.
wavy president Monica Largo We recently shared information about Ripple’s long-awaited stablecoin, RLUSD, and its implications for XRP.
During his appearance on the Scoop podcast, Long provided information on how the new stablecoin will integrate with and enhance the existing XRP ecosystem.
Long emphasized that the soon-to-be-launched RLUSD is designed to “complement” XRP, particularly in facilitating more efficient cross-border flows. While XRP will continue to play a central role in Ripple’s payment solutions, the introduction of RLUSD is intended to complement XRP’s use in this regard.
Long’s comments suggest that Ripple’s strategy involves using RLUSD to boost XRP usage rather than replace it, a move that could potentially attract more users to the XRP Ledger.
Tomiwabold OlajideIn April, blockchain firm Ripple announced the introduction of a US dollar stablecoin, marking its debut in the $150 billion stablecoin market. The Ripple stablecoin would serve a function the crypto giant promotes as part of its on-demand liquidity offering, which attempts to quickly settle transactions between banks and other financial institutions by using the XRP token as a “bridge” currency.
Speculations silenced
Following the announcement of the stablecoin and the subsequent reveal of its ticker at the XRPL Apex event held in June, the crypto community has been abuzz with speculation about how the new stablecoin will fit into the Ripple ecosystem and its possible implications for XRP.
Tomiwabold OlajideConcerns have also been raised about whether the stablecoin would replace XRP in cross-border transfers.
The Ripple chairman’s recent comments corroborate Ripple’s previous assurances that it has not abandoned XRP as a payment token and that stablecoins would rather serve as a complementary product to the XRP ecosystem.
