The post Ripple’s CEO Announces Imminent Launch of USD Stablecoin Amid Regulatory Challenges appeared on BitcoinEthereumNews.com.

Ripple’s CEO, Brad Garlinghouse, announced at Korea Blockchain Week that the company’s stablecoin backed by the US dollar is on the verge of launch. During a closed beta phase, Ripple’s stablecoin, tentatively named Ripple USD (RLUSD), is undergoing testing on two blockchain networks, marking a significant step forward for the firm. Garlinghouse’s comments indicate a bullish outlook on stablecoins, citing the loss of value of USDC as a pivotal moment that opened opportunities in the market. Ripple set to launch its stablecoin, RLUSD, soon, as CEO outlines significant industry insights during Korea Blockchain Week. Ripple’s Anticipated Stablecoin Launch Brad Garlinghouse recently revealed that Ripple is nearing the launch of its USD-pegged stablecoin, RLUSD, during his speech at Korea Blockchain Week in Seoul. This announcement comes as Ripple completes a closed beta phase of RLUSD, with testing already underway on two distinct blockchain platforms. Garlinghouse emphasized that the official release will occur in a matter of weeks rather than months, showcasing Ripple’s commitment to advancing its offerings in the competitive stablecoin market. The Strategic Timing of Ripple’s Entry In a notable commentary, Garlinghouse highlighted that the recent decline in the value of USDC presented a unique market opportunity that Ripple is eager to capitalize on. He remarked, “Eighteen months ago, USDC lost its value, and at that time, we felt it was the right moment to step into this market as a trustworthy player already collaborating with numerous financial institutions.” This underlines Ripple’s strategic maneuvering and its vision to establish a robust foothold in the blockchain space. The Implications of Regulatory Challenges While discussing Ripple’s future, Garlinghouse addressed critical concerns regarding the company’s potential public offering in the United States. He stated that there is “no interest at all” in going public given the SEC’s adversarial stance towards the crypto industry.…

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Filed under: News - @ September 4, 2024 10:20 am