The post How Ripple’s “RLUSD” Will Shake the Stablecoin Market: USDT, USDC Under Fire? appeared on BitcoinEthereumNews.com.

In the latest Thinking Crypto Podcast, Tony Edward interviewed Markus Infinger, SVP of RippleX, discussing Ripple’s upcoming stablecoin, RLUSD, and its potential impact on the crypto market. With RLUSD’s introduction, Ripple aims to strengthen its position in the growing stablecoin sector. Offering RLUSD on both the XRP Ledger and Ethereum main chain enhances accessibility and flexibility for users and investors. Competing with the Kings Ripple’s RLUSD is set to compete with established stablecoins like USDT and USDC, with a focus on high trust and compliance. Ripple’s impressive track record and strategic partnerships position it well to take on this challenge. Additionally, Ripple is exploring tokenization projects on the XRP Ledger, collaborating with major asset managers to bring real-world assets on-chain. The global stablecoin market cap is around $150 billion, with the total amount of US dollars in circulation ranging from 21 to 22 trillion dollars. Rather than directly competing with giants like Circle, Tether, and PayPal, Ripple is concentrating on carving out a significant share of the growing stablecoin market. The company believes that US dollar liquidity will continue to expand, viewing these dynamics more as co-option than competition. Transforming Financial Markets with Blockchain Infinger emphasized the transformative potential of blockchain technology in financial markets by reducing transaction times and increasing efficiency. He stressed the importance of collaboration with traditional financial systems rather than outright disruption. Ripple is confident that stablecoins, including RLUSD, will play a pivotal role in bridging the gap between traditional finance and the crypto world. Regulatory Concerns The podcast also addressed regulatory challenges, with Infinger noting the uncertainty surrounding stablecoins and market structure in the U.S. due to the SEC’s involvement. Although there are no immediate concerns, Ripple is committed to a compliance-first approach, engaging with relevant regulators to ensure RLUSD adheres to all necessary guidelines.…

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Filed under: News - @ July 23, 2024 5:22 pm