Ripple’s stablecoin, RLUSD, is set to gain traction as the company focuses on expanding its availability across major platforms. In an interview with Bloomberg on January 8, Monica Long, President of Ripple revealed that the stablecoin will soon be listed on more platforms.
She hinted that announcements regarding these listings, including prominent exchanges like Coinbase and Binance, are expected imminently.
The Launch of RLUSD
RLUSD, launched last month, represents Ripple’s venture into the growing stablecoin market. Long stressed its significance, noting that the stablecoin addresses the increasing demand for dollar-pegged assets in payments and trading.Â
She assured that RLUSD and Ripple’s native cryptocurrency, XRP, are complementary rather than competitive. While RLUSD caters to stable-value transactions, XRP’s use in cross-border payments remains unmatched.
Ripple-Based ETF on the Horizon
During the interview, Long also mentioned the potential for a Ripple-based Exchange Traded Fund (ETF). She stated that the company is considering launching such an ETF shortly, enhancing Ripple’s presence in traditional financial markets.
Also Read: Independent Reserve Becomes Singapore’s First Exchange To List Ripple USD Stablecoin (RLUSD)
While no specifics were provided, the prospect of an ETF highlights Ripple’s efforts to bridge the gap between crypto and institutional finance.
RLUSD’s Role in the Evolving Crypto Market
As the cryptocurrency market grows, stablecoins like RLUSD are becoming increasingly vital. Monica Long emphasized that stablecoins are essential for facilitating secure and efficient payments.
Additionally, they play a crucial role in trading by providing a stable asset during market volatility. She expressed optimism about RLUSD’s adoption in the coming year, linking its growth to the overall expansion of the crypto ecosystem.
Chainlink Partnership Enhances RLUSD’s Capabilities
Ripple’s enterprise stablecoin is poised to make significant inroads into DeFi thanks to its integration with Chainlink’s Oracle network. This collaboration will allow decentralized applications to access RLUSD price feeds, enabling new use cases in trading, lending, and financial services.
Chainlink, known for its robust and reliable infrastructure, has facilitated over $18 trillion in transaction value across institutional markets. By leveraging this partnership, Ripple aims to expand RLUSD’s reach in DeFi while maintaining its utility for traditional finance.
Expanding Horizons
Ripple has yet to finalize the stablecoin’s listing on major exchanges, but Long’s statements indicate that the company is actively working on it. The announcement of RLUSD listings on platforms like Coinbase and Binance could significantly boost the stablecoin’s visibility and adoption.
In the meantime, Ripple continues to innovate by combining stablecoins with cutting-edge technologies like Chainlink. By doing so, the company positions RLUSD as a pivotal player in the evolving landscape of crypto and DeFi, catering to both retail and institutional needs.
Also Read: Ripple Overtakes Ethereum as South Korea’s Second Favorite Crypto, Bitcoin Retains No:1 Position