The post Ripple Explores New Horizons with RLUSD Stablecoin and Potential XRP ETF appeared on BitcoinEthereumNews.com.

Ripple’s President Monica Long, in an interview with Frank Chaparro on ‘The Scoop’, elaborated on the company’s plans to launch a US dollar stablecoin, RLUSD, and also discussed the potential for an XRP ETF. This follows a significant regulatory clarity gained from the US Courts last July concerning XRP’s status, not as a security but as a commodity, which has stimulated new business opportunities for Ripple in the US.  Long explained that the decision to introduce a stablecoin is driven by the needs of Ripple’s existing payment clients and banks while stressing the role of stablecoins in facilitating cost-efficient and transparent transactions. She explained that the USD stablecoin aims to optimize efficiency in major payment corridors with abundant liquidity, such as USD to EUR transactions. In contrast, XRP will continue to serve as a bridge asset, particularly in more costly and less liquid payment corridors.  Ripple To Go Beyond Payments Into Broader Blockchain Solutions She also underscored that stablecoins complement XRP in Ripple’s ecosystem which serves different needs in the payment landscape. Stablecoin development, with Ripple leveraging its robust partnerships and regulatory compliance to ensure that the new offering is accepted and trusted in the market. Ripple is aiming beyond payments into broader blockchain solutions for enterprises. Ripple’s President explained the strategic shift as the team has identified new opportunities for Ripple to be a holistic enterprise blockchain infrastructure provider. This includes enabling financial institutions to engage in activities like real-world asset tokenization and providing end-to-end infrastructure for various financial services. Concerns Over SEC’s Regulatory Stance Despite Ripple’s legal victory, Long has expressed concerns over the ongoing regulatory challenges in the US and the SEC’s aggressive take on crypto regulation. Long stated ‘The clarity around XRP specifically has been very helpful, but the overall temperament of the US government, I…

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Filed under: News - @ June 28, 2024 4:14 am