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Ripple, a leading blockchain company, has announced plans to introduce stablecoins in Japan, marking a strategic expansion in the Asia-Pacific region. According to a Bloomberg interview, Rippleās CEO Brad Garlinghouse confirmed that the company sees significant global opportunities for stablecoins, particularly in Japan.
Ripple Stablecoin to Experience Growth Once Approved
The proposed Ripple stablecoin (RLUSD) is central to this expansion plan. According to Rippleās CEO, the rollout of RLUSD will occur once U.S. regulators grant the necessary approvals. The company is navigating the complex regulatory landscape in the United States, where stablecoins are gaining attention but remain subject to stringent scrutiny.
Stablecoins pegged to traditional fiat currencies like the U.S. dollar offer a unique advantage by reducing volatility and enabling seamless transactions. For Ripple, stablecoinās introduction could enhance its existing product offerings and further solidify its position in the global financial ecosystem.
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While speaking at the interview, Brad affirmed Ripple uses XRP, its digital currency, to move money across borders. As such, the company expects significant growth in the stablecoin market, especially for stablecoins pegged to the US dollar, which has a total market value of $170 billion. Brad expects the market will grow to $2-$3 trillion in the next five years.
Ripple to Launch RLUSD Stablecoin
Overall, the rate of stablecoin adoption reflects the growing desire among many investors, individuals, and organizations. Crypto experts, including Markus Thielen, head researcher at 10x Research, said an influx of stablecoin issuance might catalyze Bitcoinās next significant price surge.
Ripple is nearing the official launch of its USD-backed stablecoin RLUSD. Popular stablecoin issuer Tether is working towards developing a UAE dirham-based stablecoin as part of its plans to expand its suite of stablecoins.
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Ripple Supercharge XRPL Solutions in Japan
In April, Ripple Labs announced it joined forces to make XRPL-powered solutions more efficient in Japan. The blockchain payment firm partnered with HashKey DX, the Tokyo-based division of the digital asset financial services company HashKey, to bring XRP Ledger-powered solutions to the Japanese market.
It is a major collaboration as HashKey Group, a player in the Asian blockchain, merged with Ripple and SBI Ripple Asia to introduce supply chain finance solutions to Japan.Ā
By harnessing the power of the XRPL, these solutions have their sights set on tokenizing and swapping crypto-native and real-world assets. With its impressive track record and performance metrics, Ripple is confident in bringing transformation and cutting-edge solutions to businesses in Japan.
