Earlier this year, Ripple Labs (developers of XRP Ledger and XRP) announced they are releasing a stablecoin native to their blockchain network – Ripple USD (RLUSD). Many expected a 2025 release, but according to CEO Brad Garlinghouse, the USD-pegged stablecoin might be closer than we think.

Attending Korea's Blockchain Week, Garlinghouse stated that Ripple will "certainly launch soon" and that it will be "weeks, not months". The decision to enter the stablecoin market came on the back of Circle's USD de-pegging earlier this year. Ripple believes it can leverage its existing infrastructure and relationships with banks and financial institutions to support a large-scale stablecoin.

The RLUSD stablecoin is part of Ripple's grander plans to build out the XRP Ledger into a sprawling Web3 ecosystem. Earlier this week, the CEO announced that the XRP Ledger will begin integrating Ethereum-compatible smart contracts, further expanding the capabilities of Ripple's blockchain platform.

Source: https://cryptonews.com.au/news/ripple-ceo-brad-garlinghouse-says-rlusd-stablecoin-weeks-away-not-months-123195/

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