Monica Long, Ripple’s president, has announced that Ripple plans to “imminently” list its new stablecoin, RLUSD, on more exchange platforms as it gears up for the XRP ETF launch soon.
Ripple’s RLUSD stablecoin gained attention in 2024 after its launch. Most crypto lovers scrutinized the digital currency pegged to the US dollar. Initially, the stablecoin was deployed in the Ethereum blockchain and XRP Ledger (XRPL). So far, 58,823,317.55 RLUSD is in supply, with a total of 795 holders.
RLSUD has experienced 1761 transactions since launch, pointing to activeness in the market. Of the token supply, 40,000,043.01 tokens, accounting for 68% of the supply, remain in the Ripple deployer account.
XRP ETF is next online after Bitcoin and Ether ETF approval
Monica Long showed optimism about the XRP ETF, stating that 2025 may see the launch of several ETFs, but XRP might be in line with Bitcoin and Ethereum ETFs. She said there are already filings for the XRP ETF that are only waiting for approvals.
The approval of the XRP ETF will be delayed further as the Securities and Exchange Commission (SEC), the approving authority, is undergoing a transition.
XRP and the SEC locked horns in a legal battle in 2020, during which the regulator accused XRP of engaging in unregistered securities offerings. Ripple won the case, and despite the SEC suggesting a fine of $2 billion, the judge only fined them $125 million.
The RLUSD has also gained access to DeFi through Chainlink. Integrating Chainlink Price Feeds provides RLUSD with the essential infrastructure it needs to deliver accurate and decentralized pricing data to DeFi applications. This ensures that protocols using RLUSD for a broad range of financial activities can operate reliably and transparently.
XRP adoption in Japan could drive market growth
The Ripple stablecoin launch was timely. It happened when banks in Japan were set to adopt Ripple’s XRP Ledger, which would tilt the financial technology landscape. As SBI CEO Yoshitaka Kitao announced, the integration will improve cross-border payments and simplify currency exchanges.
The XRP Ledger is among the most efficient and low-cost solutions for international remittance. It has the potential to revolutionize global banking systems. If the system is adopted by only 1% of Japan’s $6.372 trillion banking sector, XRP’s market capitalization could rise by $63.72 billion, resulting in XRP trading at $3.50. The widespread adoption of XRP in Japan could be the trigger.
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