Ripple (XRP): the CEO of the crypto company reveals that the launch of the stablecoin is very close

During the Korea Blockchain Week, Brad Garlinghouse, CEO of Ripple (XRP), stated that the launch of the stablecoin RLUSD is very close

Ripple (XRP) CEO reveals stablecoin launch is very close

During Korea Blockchain Week, Ripple (XRP) CEO Brad Garlinghouse said that the launch of the RLUSD stablecoin is very close.

Specifically, Garlinghouse stated that we will only have to wait a few weeks, not months for the arrival of the crypto pegged 1:1 to the US dollar.

“We will definitely launch it soon. Weeks, not months. It is called Ripple USD. In this context, RLUSD was coined.”

Not only that, the CEO of the crypto company also revealed that the idea of ​​issuing a Ripple stablecoin was born when USD Coin (USDC), the second largest stablecoin by market capitalization, lost its peg to the dollar at March 2023.

In this regard, Garlinghouse stated:

“We felt there was an opportunity for a credible operator that already works with many financial institutions to enter that market”

In any case, what the Ripple CEO highlighted is that the launch of RLUSD will take place in this current 2024, without waiting for next year.

Ripple (XRP): the success of the beta testing of the RLUSD crypto stablecoin

August was a big month for Ripple. The announcement of beta testing for Ripple USD and its success are part of this special moment.

And in fact at the end of the month the crypto company announced to the community both the success of the beta testing for RLUSD and that it had minted and burned a first batch of tokens.

The beta testing of Ripple's stablecoin took place on XRP Ledger and Ethereum and served to create new opportunities, liquidity and institutional use cases for users, developers and applications.

Not only that, the beta test also served to ensure that the stablecoin meets the highest standards of security, efficiency and reliability, before being widely available.

What the crypto company may be waiting for to proceed could be regulatory approval for RLUSD.

What is currently known about RLUSD is that it will be 100% backed by US dollar deposits, short-term US Treasury securities and other cash equivalents.

Another special moment for Ripple in August 2024 was the definitive conclusion of its lawsuit against the Securities and Exchange Commission (SEC), which caused the price of XRP to jump by +20% in 24 hours.

2025 as a turning point year

Speaking instead of this September that has just begun, Ripple has shared a series of important announcements on X regarding its present and future, stating that 2025 will be the year of the bull.

Among the various points, the one linked to his expansion plan for the programmability of XRP Ledger.

In practice, Ripple wants to provide builders, entrepreneurs and users with additional customization for a variety of use cases, accelerating innovation and attracting developers who want to take advantage of the expanded capabilities of the XRP Ledger.

Through this expansion plan, Ripple intends to introduce native smart contract capabilities on the XRP Ledger Mannet, currently in the research phase, and introduce the XRPL EVM Sidechain, expected in the coming months.

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